Baotou's economy surges ahead in Q1

In the first quarter, the gross domestic product (GDP) of Baotou city reached 101.01 billion yuan ($1.4 billion), with its added value increasing by 8.4 percent year-on-year.

Looking at the city's industries, all three sectors experienced simultaneous development. The added value of the primary industry increased by 3.2 percent year-on-year, the added value of the secondary industry grew by 13.5 percent, and the added value of the tertiary industry increased by 4.5 percent.

Baotou's industrial, construction, and for-profit service sectors served as the main engines that drove its economic growth in the first quarter, jointly accounting for over 60 percent of the GDP and contributing 82.1 percent to the overall economic growth of the city.

In the first quarter, the added value of the city's industrial enterprises above designated size increased by 16.5 percent year-on-year. They achieved double-digit growth for the 43rd consecutive month.

In recent years, the city has been striving to build itself as the "World's Green Silicon City" and the "World's Rare Earth City". In the first quarter, the rare earth and crystalline silicon photovoltaic industries in the city collectively drove a 14.5 percentage point increase in the added value of industrial enterprises above designated size, serving as a robust support for the city's industrial and economic development.

Additionally, in the first quarter, the scale of fixed asset investment in the city steadily expanded, with a year-on-year increase of 20.2 percent. And the total retail sales of consumer goods in the city reached 26.15 billion yuan, up 4.2 percent year-on-year.