Shanxi boasts robust economic performance during Jan-July

Shanxi province's economic performance in the first seven months of 2023 has been steady and positive, according to data released by the Shanxi Bureau of Statistics. 

Industrial production has experienced stable growth, with a 3.8 percent increase in the added value of industrial enterprises above designated size – those with annual revenue of 20 million yuan ($2.75 million) or more. 

The manufacturing industry has recorded strong growth, with a 7.6 percent increase in added value. Meanwhile, the production of key industrial products such as coal, iron, steel, aluminum, electricity, photovoltaic cells, and unconventional natural gas has also continued to grow. 

Market sales have been growing rapidly, and the tourism market has been gradually recovering in the province. Total retail sales of consumer goods reached 444.87 billion yuan in the past seven months, showing a growth rate of 4.7 percent. The number of tourist visits received at major scenic spots in the province has increased by 130 percent, with ticket revenue and operating revenue both up 1.8-fold. 

Revenue from the financial industry has seen a slight increase, based on stable support from this sector. The revenue from the province's general public budget and its expenditure reached 220.72 billion yuan and 336.1 billion yuan, respectively, growing by 2.0 percent and 7.8 percent. 

The deposit balance of financial institutions in the province has increased by 330.71 billion yuan from the beginning of this year to 56,954.1 billion yuan as of the end of July.

In addition, the employment situation remained stable, with 315,000 new urban jobs created from January to July – equivalent to 70 percent of the annual target.