Baotou records steady economic growth in Q1

The city of Baotou in North China’s Inner Mongolia autonomous region recorded sound economic growth during the first quarter of 2019 with a range of economic indicators showing steady expansion, according to a May 22 report in the Baotou Daily.

The city’s GDP in the first quarter showed year-on-year growth of 7.7 percent, 2.5 percentage points higher than that of 2018. The figure was also 1.3 percentage points higher than the national average and 2.2 percentage points higher than the autonomous region’s average.

The added value of larger industrial enterprises above a designated scale -- the statistical term used in China referring to industrial companies with annual main business revenue of 20 million yuan or more – in Q1 increased by 13.8 percent, 7.7 percentage points higher than the same period of the previous year.

Fixed asset investments grew by 3.9 percent during the period, reversing the sharp decline in investment since last year.

The city of Baotou, in North China’s Inner Mongolia autonomous region, basks in sunshine. [Photo provided to chinadaily.com.cn]