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Yangquan's economy puts in robust first half performance

Updated: 2020-08-06

The economy of Yangquan city in North China's Shanxi province put in a solid performance in the first half of the year (H1), resisting the negative effects of the novel coronavirus.

The gross domestic product in the six months had only a slight 0.2 percent year on year decrease to 33.40 billion yuan ($4.81 billion).

The decrease in GDP lessened by 0.1 percentage points from the first quarter's fall.

The tertiary sector in Yangquan posted a 1.7 percent decrease in added value in H1 compared with the same period last year.

It contributed 54.0 percent to GDP in the period, followed by 45.0 percent from the secondary sector and 1.0 percent by the primary sector.

Officials said a recovery of emerging industries gained traction with their added value up 3.1 percent year on year, which was 2.8 percentage points higher than that of the city's traditional industries.

Agricultural production proved healthy, with the total output value of agriculture, forestry, animal husbandry and fishery industries reaching 680 million yuan in H1, a year-on-year increase of 2.5 percent.

The city's general public budget revenue during the first six months was 2.58 billion yuan, down 25.6 percent year on year, but the decrease narrowed by 7.1 percentage points in the second quarter compared with that of the first quarter.

Fixed asset investment between January and June rose 8.8 percent, ranking 5th among the 11 cities in Shanxi province.

Retail sales totaled 11.91 billion yuan in the half, dropping 19.5 percent, but the decline narrowed by 9.7 percentage points compared with that the Q1 fall.

Officials said the registered unemployment rate in urban Yangquan during the period was 3.8 percent.

The per capita disposable income of local urban residents in H1 amounted to 16,247 yuan, an increase of 2.3 percent and the per capita disposable income of rural residents was 8,052 yuan, up 2.7 percent compared with the same period last year.