Guiyang economy shows steady growth in Jan-July

Guiyang's economy exhibited steady growth in the first seven months of this year, fueled by notable advancements in the industrial and retail sectors, despite facing challenges in certain areas.

The city's large-scale industrial added value rose by 10.7 percent year-on-year. Medium and large enterprises experienced an 8.3 percent increase, while small and micro enterprises surged by an impressive 21.1 percent.

Among the leading industries, growth was particularly strong, with an expansion of 71.6 percent. New energy batteries and materials saw a remarkable increase of 129.5 percent, and new energy vehicles grew by 28.1 percent.

Fixed asset investment increased by 3.4 percent year-on-year. A detailed sectoral analysis reveals a 58.8 percent decline in primary industry investments, contrasted with a 5.4 percent increase in secondary industry investments and a 3.8 percent rise in tertiary industry investments.

Retail sales of consumer goods in units above designated size reached 74.14 billion yuan ($10.41 billion), a 19.8 percent increase compared to the previous year. Urban retail sales grew by 19.9 percent, while rural retail sales rose by 15.0 percent.

Guiyang's general public budget revenue amounted to 28.66 billion yuan, a 3.9 percent year-on-year increase. General public budget expenditure reached 40.48 billion yuan, up by 2.5 percent.

The city's Consumer Price Index (CPI) increased by 0.5 percent year-on-year. Of the eight major categories, six experienced price hikes: food, tobacco, and alcohol, clothing, housing, household goods and services, education, culture, and entertainment and other goods and services. Medical care prices remained stable, while transportation and communication prices decreased by 2.3 percent.