Investment growth favors Yangquan's economic development in H1
A tourism development project is under construction in Yanhui village, Pingding county. [Photo/Yangquan Daily]
The city of Yangquan in North China's Shanxi province achieved impressive results stabilizing investment in the first half of 2022.
From January to June, the city's fixed asset investment increased 6.7 percent, 0.6 and 1.3 percentage points higher than the national and provincial growth rates, respectively.
Investment in projects over 100 million yuan ($14.82 million) increased 5.5 percent, accounting for 86.5 percent of total fixed asset investment.
And new infrastructure projects saw an increase of 25.5 percent in investment, with their proportion of fixed asset investment increasing from 3.6 percent in H1 of 2021 to 4.2 percent during the same period this year.
The city's industrial investment growth rate reached 43.5 percent, an increase of 60.1 percentage points over the same period last year.
Manufacturing investment, which is an early indicator of manufacturing development, surged 120.8 percent year-on-year, strongly supporting the city's rapid growth in industrial investment.
The project of Yangquan Wanda Plaza is under construction in Yangquan. [Photo/Yangquan Daily]
Investment in the technological transformation of the manufacturing industry rose 79.0 percent, while investment in the high-tech manufacturing industry grew 74.9 percent, bringing the whole industry in an intelligent, green, and high-end development direction.
Among the city's investments in 17 industrial categories, 12 achieved growth and nine showed double-digit growth in the first half. Local strategic emerging industry investment increased 20.3 percent, accounting for 35.8 percent of the city's investment and 4.1 percentage points higher than the same period last year.
In addition, driven by special agricultural projects, Yangquan's investment in the primary sector of the economy grew 21.5 percent year-on-year.