Shanxi sees stable economic recovery from Jan-Aug

Shanxi province's economy recovered steadily from January to August.

Industrial production remained steady, with the added value of industrial enterprises above designated size – those with annual sales revenue of more than 20 million yuan ($2.74 million) – in the province growing 3.6 percent year-on-year. The manufacturing industry, in particular, saw a 6.2-percent increase in added value. 

The energy supply was increased. The production of raw coal reached 898.16 million metric tons from January to August, a growth of 4.4 percent year-on-year, while unconventional natural gas production increased 7.1 percent and electricity generation grew 5.7 percent. 

Although fixed asset investment declined 6.9 percent year-on-year during the period, the number of construction projects steadily increased. The province witnessed a 5.4 percent growth in the number of construction projects, including a 1.3-percent increase in newly-initiated projects. 

From January to August, the total retail sales of consumer goods in the province reached 513.67 billion yuan, a growth of 4.3 percent year-on-year. 

The tourism market continued to rebound, with key scenic areas in the province receiving 59.19 million visitors, a 1.2-fold increase, and ticket revenue amounting to 2 billion yuan, a 1.6-fold increase. 

Fiscal revenue and expenditure also maintained growth. Over the period, the general public budget revenue and expenditure reached 242.35 billion yuan and 386.45 billion yuan, respectively, up 0.2 percent and 10.2 percent.

Financial support remained stable. By the end of August, the balance of deposits at local financial institutions reached 5.72 trillion yuan, an increase of 9.1 percent compared to the same period last year. The balance of loans reached 4.11 trillion yuan, up 11.9 percent. 

From January to August, the province's consumer price index saw a slight increase of 0.2 percent. 

In addition, the employment situation remained stable. The province saw the addition of 374,000 jobs in urban areas, accounting for 83.1 percent of the annual target.