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Guiyang sees stable economic growth in Jan-May

eguiyang.com.cn|Updated: July 24, 2023

According to the Guiyang municipal bureau of statistics, the city saw stable economic growth from January to May.

From January to May, the added value of industries above designated size in Guiyang increased by 5.4 percent year-on-year, a 2.1- percentage-point improvement compared to the period from January to April.

All three major sectors experienced increased growth rates during the period. The mining industry's added value grew by 10.3 percent, manufacturing grew by 5.5 percent, and the production and supply of electricity, heat, gas, and water increased by 3.0 percent.

The consumer market in Guiyang has also steadily recovered. From January to May, the retail sales of consumer goods increased by 0.3 percent year-on-year, a 3.1-percentage-point improvement compared to the period from January to April.

Automotive retail continued to rebound, with a growth rate of 10.7 percent year-on-year, including a significant increase of 119.5 percent in the sales of new energy vehicles.

Meanwhile, Guiyang's total fiscal revenue reached 46.49 billion yuan ($6.48 billion), a year-on-year increase of 19.1 percent from January to May. The balance of RMB deposits and loans in financial institutions increased by 6.2 percent and 11.9 percent, respectively.

The consumer price index in Guiyang remained stable, with a 0.8 percent year-on-year increase from January to May.