Taiyuan sees stable economic operation in 2023

Taiyuan, capital of North China's Shanxi province, saw its gross domestic product increase 3.8 percent year-on-year, reaching 557.37 billion yuan ($77.49 billion) in 2023. 

The added value of Taiyuan's primary, secondary and tertiary sectors reached 4.6 billion yuan, 234.17 billion yuan, and 318.6 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 1.7 percent. Among the industries, the added value of strategic emerging industries accounted for 35.9 percent of the city's total, up 5 percent year-on-year. 

The city's fixed asset investment decreased by 18.3 percent. However, project investment played a major supporting role in 2023, with 725 projects under construction within this period. This was an increase of 152 compared to 2022, driving the city's investment growth by 0.4 percentage points. 

Taiyuan's consumption rate steadily recovered. Total local retail sales of consumer goods reached 191.29 billion yuan, showing a growth of 8.6 percent year-on-year. In addition, the city's consumer price index saw a moderate decline of 0.3 percent when compared to 2022 statistics. 

The city's per capita disposable income reached 42,685 yuan, an increase of 5.1 percent year-on-year. The per capita disposable income of urban and rural residents in the city grew 4.9 percent and 7.3 percent year-on-year, now standing at 45,835 yuan and 24,488 yuan, respectively.