Overview

(chinadaily.com.cn)

Updated: 2021-05-12

Economy in 2020:

Shanxi province saw a 3.6 percent growth in its gross domestic product (GDP) in 2020, with a GDP of 1.77 trillion yuan ($272.71 billion), according to the annual report by the Shanxi Statistics Bureau.

The tertiary industry is playing a prominent role in driving economic growth in Shanxi province, with a 2.1 percent growth in added value last year and its contribution to GDP growth amounting to 51.16 percent, followed by 43.48 percent by the secondary industry and 5.36 percent by the primary industry.

The province's general public budget expenditure was 511.09 billion yuan, an increase of 8.4 percent.

Annual investment in fixed assets rose 10.6 percent last year, 7.7 percentage points higher than the national average.

The retail sales of consumer goods totaled 674.63 billion yuan, down 4 percent. The province's consumer prices rose 2.9 percent from 2019. 

According to statistics, a total of 488,000 people were newly employed in the province's cities. 

The per capita disposable income of local urban residents amounted to 34,793 yuan, an increase of 4.6 percent and the per capita disposable income of rural residents was 13,878 yuan, up 7.6 percent. 

Agriculture

The province's grain output in 2020 was 14.24 million metric tons, an increase of 4.6 percent year-on-year, and the total production of pork, beef, mutton and poultry was 1.02 tons, up 12.7 percent year-on-year.

The planting area of vegetables in the province was 189,000 hectares, an increase of 4.8 percent year-on-year, and the vegetable output was 8.61 million tons, up 4.0 percent year-on-year. 

Industries 

The added value of industrial enterprises above a designated size – those with annual sales revenue of 20 million yuan or more – increased 5.7 percent compared with 2019.

Among leading industries, the high-tech manufacturing industry increased in added value by 9.6 percent year-on-year; the new generation information technology industry increased by 12.8 percent. 

Revenue generated by industrial enterprises above a designated size hit 1.83 trillion yuan from January to November in 2020, down 2.9 percent year-on-year, although the rate of decline narrowed by 14.1 percentage points from the beginning of 2020. 

Opening-up

The value of Shanxi's foreign trade in 2020 was 150.58 billion yuan, increasing 4 percent year-on-year. Imports were worth 62.8 billion yuan, down 1.9 percent, and exports totaled 87.7 billion yuan, up 8.7 percent.

The top six trading partners of Shanxi in 2020 included the United States, the European Union, ASEAN, Japan and South Korea, with a total import-export value of 90.93 billion yuan, accounting for 60.4 percent of the province's total foreign trade value.

By the end of 2020, Taiyuan Customs, the provincial customs department, had registered 6,176 foreign trade enterprises. Among them, the total import and export value of foreign-invested enterprises was 87.06 billion yuan, a year-on-year increase of 5.7 percent, accounting for 57.8 percent of Shanxi’s total foreign trade value. 

In the past year, Shanxi added two international airports in Yuncheng and Datong cities, and one temporary airport – Mount Wutai Airport. National cross-border e-commerce comprehensive pilot areas were approved for establishment in Taiyuan and Datong cities. Also, the province launched 182 China-Europe Express freight trains.

Energy 

Shanxi stepped up its efforts in reducing excessive coal and steel production by slashing 40.99 million tons off coal production capacity.

The province's installed power generation capacity last year reached 103.83 million kilowatts, an increase of 12.3 percent year-on-year.

The installed capacity of thermal power came in at 68.78 million kW, an increase of 2.8 percent; the installed capacity of grid-connected wind power was 19.74 million kW, an increase of 57.7 percent; the installed capacity of grid-connected solar power was 13.09 million kW, an increase of 20.3 percent and the installed capacity of hydropower was 2.23 million kW.

Throughout 2020, Shanxi transmitted 105.36 billion kilowatt-hours of electricity to other provinces, an increase of 6.3 percent year-on-year. 

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