Economic development of Yangquan city in 2019
Yangquan city in in North China's Shanxi province saw a 5 percent growth in gross domestic product (GDP) to 71.89 billion yuan ($10.13 billion) and per capita GDP of 50,775 yuan, according to the annual report released by the Yangquan statistics bureau on March 16.
Officials said the tertiary sector played a prominent role in driving economic growth in Yangquan, with 5.6 percent growth in added value last year and its contribution to GDP growth amounting to 52.9 percent, followed by 45.5 percent by the secondary sector and 1.6 percent by the primary sector.
The city's general public budget revenue in 2019 was 5.74 billion yuan, a decrease of 0.4 percent during the same period and general public budget expenditure was 13.23 billion yuan, an increase of 7.1 percent. Tax revenue hit 3.96 billion yuan, a decrease of 6.1 percent year on year.
Annual investment in fixed assets rose 7.7 percent last year and retail sales of consumer goods totaled 37.19 billion yuan, up 7.2 percent. The city's consumer prices in 2019 rose 2.8 percent year on year.
According to statistics, a total of 29,795 people secured new jobs in the city.
The per capita disposable income of local urban residents amounted to 33,582 yuan, an increase of 6.7 percent and per capita disposable income of rural residents was 15,390 yuan, up 9.3 percent.
The added value of local manufacturers above a designated size – those with annual sales revenue of 20 million yuan or more – increased 3.4 percent compared with that of 2018. The added value of the coal industry increased by 0.1 percent and that of the non-coal industries increased by 10 percent during the same period.
Among leading industries, the strategic emerging industry increased in added value by 29.3 percent year on year. Profits and taxation generated by manufacturers above a designated size hit 5.49 billion yuan in 2019, up 10.3 percent year on year.
The city's crop planting area increased to 570 square kilometers, representing year-on-year growth of 1.1 percent. Total grain output in 2019 was 216,000 metric tons, a decrease of 20.9 percent year on year and the total output of chicken, pork, beef and mutton was 21,000 tons, up 6.2 percent on the previous corresponding period.
Shanxi completed afforestation of 49 square kilometers in 2019, an increase of 16.1 percent.
The value of Yangquan's foreign trade in 2019 was $148.88 million yuan, an increase of 38.6 percent year on year. Of that, imports were worth $72.87 million, up 63.9 percent and exports totaled $76.01 million, up 20.7 percent.
There were two foreign-funded companies newly established in the city in 2019. Total foreign direct investment was $19.36 million, a growth of 342.8 percent year-on-year.