Tai'an's economy sees stable growth in Jan-May

According to statistics from the Tai'an statistics bureau, the city's economy posted a recovery in the Jan-May period this year.

During that period, the added value of Tai'an's industrial enterprises above designated size increased by 11.4 percent year-on-year, ranking 5th in the province in terms of growth rate.

Among the city's 37 industries, 24 achieved year-on-year growth. Specifically, high-tech manufacturing industries such as optical cables, lithium-ion batteries, and industrial automatic regulation instruments and control systems saw their production output increase by 115.3 percent, 51.2 percent, and 14.6 percent respectively.

From January to May, fixed asset investment in Tai'an increased by 12.5 percent year-on-year, the fourth highest in the province. Industrial investment increased by 31.9 percent, manufacturing investment increased by 31.8 percent, and investment in the four new industries – new materials, new energy, new equipment, new medicine – increased by 22.9 percent.

The consumer market has seen steady recovery as well. From January to May, the retail sales of social consumer goods above designated size increased by 11.9 percent year-on-year. Sales of new energy vehicles was particularly good, surging 90.9 percent year-on-year.

Tai'an's general public budget revenue amounted to 11.59 billion yuan ($1.61 billion), a year-on-year increase of 3.2 percent, during the same period.