Shanxi shows stable economic growth over Jan-Feb

Shanxi's economy has shown stable and positive growth in the first two months of this year, according to a report by Shanxi Statistics Bureau that was released on March 21.

From January to February, the added value of industrial enterprises above a designated size – those with annual revenue of 20 million yuan ($2.77 million) or more – in the province increased a modest 0.6 percent. Notably, the added value of the equipment manufacturing industry and the high-tech manufacturing industry grew 6.7 percent and 15.5 percent, respectively. 

Fixed asset investment in the province grew 6.4 percent during the first two months, marking a 13-percent increase from 2023 statistics. Specifically, investment in the primary, secondary and tertiary industry increased 15.4 percent, 11.5 percent, and 2.3 percent. 

The consumer market steadily rebounded, with the province's total retail sales of consumer goods reaching 124.29 billion yuan, up 3.7 percent. 

The tourism market continued to boom, with key scenic areas in the province receiving 14.29 million visits over the past two months, up 27 percent year-on-year. The ticket revenue and operational income of scenic areas also saw growth, increasing 16.3 percent and 17.8 percent, respectively.

Social welfare support also continued to strengthen, with the province's general public budget expenditure reaching 88.67 billion yuan, a 9.9-percent increase. Among the general public budget, expenditure concerning living standards improvement amounted to 72.83 billion yuan, up 7.9 percent. 

The province's urban areas saw the addition of 44,000 new jobs, achieving 98 percent of the annual employment target.