Business operation in Shaanxi in the first half of the year: Consumption continues to recover, foreign trade structure is optimized, investment attraction power is enhanced
On August 1, the Information Office of the Shaanxi Provincial Government held a press conference to announce the business operation of the province in the first half of the year. The conference invited the relevant person in charge of the Provincial Department of Commerce to highlight the key characteristics of the business operation.
One key characteristic is that consumption continued to recover in Shaanxi. The province actively carried out the “2023 Qin Tesco Consumption Promotion Year” campaign, which included initiatives such as issuing consumer coupons, constructing convenient living circles in the city, upgrading pedestrian streets, and creating night-time economic clusters. These efforts aimed to restore and expand consumption in the province. As a result, the retail sales of goods grew steadily, reaching 254.321 billion yuan with a year-on-year increase of 4.9%. Retail sales of 13 out of 23 categories of bulk commodities experienced growth, with four categories achieving growth rates of over 10%. The catering sector also recovered strongly, with catering revenue increasing by 24.4% to 18.728 billion yuan. This growth rate was 0.9 percentage points higher than the national average. Furthermore, the retail sales of automobiles, grain, oil and food, clothing, shoes and hats, and household appliances in the province increased by 13.2%, 8.9%, 2%, and 5.4% respectively. The total retail sales of social consumer goods in various cities in the province also saw growth rates higher than the national average.
Another characteristic of the province’s business operation was the optimization of foreign trade structure. Shaanxi focused on utilizing various key exhibition platforms at home and abroad to promote its products and expand its foreign trade. The province experienced better import and export performance in emerging markets, with a 30.9% year-on-year increase in trade with ASEAN and a 41% year-on-year increase in trade with countries involved in the “Belt and Road” initiative. Import and export with Russia and the five Central Asian countries also increased significantly. In traditional markets such as the European Union, the United States, and Japan, there was growth in import and export as well. General trade and import and export of private enterprises in the province remained vibrant, with a 3.9% year-on-year increase in general trade and a 5.9% year-on-year increase in private enterprise import and export. The export of “three new items” including new energy vehicles, lithium-ion batteries, and solar cells also experienced rapid growth.
Lastly, the province focused on enhancing its investment attraction power. Shaanxi accelerated the construction of an information system for investment promotion and organized various domestic and foreign investment promotion activities in key sectors such as high-end coal chemical industry, automobile manufacturing, biomedicine, logistics and warehousing, and financial services. The precise investment promotion of the industrial chain was also deepened. As a result, 57.6% of the planned investment for the year was completed in the first half of the year. The province also saw the introduction of 2,183 new investment projects, with an actual capital in place of 427.249 billion yuan. The manufacturing industry saw significant growth in domestic capital, accounting for 38.2% of the total domestic investment in the province. The service industry also witnessed growth, with the actual use of foreign capital increasing by 40.9%.
Overall, the business operation in Shaanxi in the first half of the year showcased a recovery in consumption, optimization of foreign trade structure, and enhanced investment attraction power. These positive developments exhibit the province’s efforts in revitalizing its economy and promoting growth across various sectors.
Source: Shaanxi Daily
Editor: Zhang Fen