Taiyuan makes strides in economic development in 2022

The gross domestic product of Taiyuan, capital of North China's Shanxi province, increased 3.3 percent in 2022, totaling at 557.12 billion yuan ($82.51 billion). 

The added value of Taiyuan's primary, secondary and tertiary sectors reached 4.81 billion yuan, 246.61 billion yuan, and 305.70 billion yuan, respectively. 

The added value of all industrial companies above designated size – those with an annual sales revenue of 20 million yuan or more – increased 8.5 percent. 

Among Taiyuan's industries, the added value of the equipment manufacturing and strategic emerging industries grew 6.8 percent and 12.3 percent in 2022. 

The city's fixed asset investment increased 0.2 percent, and investment in urban infrastructure construction grew rapidly, accounting for 31.3 percent of its total fixed asset investment. Large-scale project investment played a major supporting role in 2022, with 126 projects each worth over 1 billion yuan having begun construction within this period. 

Taiyuan's consumption rate is steadily recovering. Total local retail sales of consumer goods reached 176.14 billion yuan, a decrease of 6 percent year-on-year. In addition, consumer prices saw a moderate increase of 2.1 percent when compared to 2021 statistics. 

The city's per capita disposable income reached 40,597 yuan, an increase of 2,216 yuan when compared to 2021. The per capita disposable income of urban and rural residents in the city grew 5.6 percent and 5.9 percent year-on-year, now standing at 43,694 yuan and 22,822 yuan, respectively.