Taiyuan's Jan-Sept GDP Growth Tops National Average

The gross domestic product (GDP) of Taiyuan, capital of North China's Shanxi province, increased 3.6 percent to CNY 400.81 billion ($55.08 billion) in the first three quarters of 2022, which was 0.6 percentage points higher than the national average growth. 

The added value of enterprises above a designated size – those with annual revenue of CNY 20 million or more ($2.75 million) – increased 8 percent, 1.1 percentage points higher than that of the first eight months. 

The added value of strategic emerging industries accounted for more than 30 percent of the total added value of enterprises above a designated size. Of those, the added value of the new energy vehicles, energy conservation and environmental protection, biological and high-end equipment manufacturing sectors grew 125.3 percent, 86.4 percent, 34.4 percent and 21.5 percent, respectively.

From January to September, the city's fixed asset investment increased 0.1 percent. Investment in urban infrastructure construction accounted for more than 20 percent of the city's total investment.

During the same period, 116 projects under construction in the city each cost more than 1 billion yuan, an increase in the number of 10 over the same period last year. 

Total retail sales came in CNY 134.97 billion, down 2.1 percent year-on-year, but the decline narrowed compared with the first half of the year.

Vehicle sales recovered and total revenue generated by auto goods was CNY 25.63 billion in the period. In particular, retail sales of new energy vehicles hit CNY 4.83 billion, increasing more than 100 percent.