Guiyang's economic performance shows resilience in Q1

Guiyang city. [Photo/Colorful Guizhou network]

Guiyang city's economy demonstrated resilience in the first quarter, with preliminary calculations revealing a GDP of 117.77 billion yuan ($16.32 billion), reflecting a robust growth rate of 6.2 percent compared to the same period last year. This growth was driven by notable contributions from key sectors.

The city's primary industry saw steady growth, with a value added of 3.43 billion yuan, marking a 4 percent increase. Meanwhile, its secondary industry significantly bolstered the overall growth, recording an added value of 44.12 billion yuan and an impressive growth rate of 9.8 percent. Its tertiary industry also played a vital role in the rise in GDP, with an added value of 70.22 billion yuan and a growth rate of 4.3 percent.

Specifically, agricultural production remained stable throughout the city, contributing 6.05 billion yuan to the overall output value, with a growth rate of 4 percent. In the industrial sector, the added value of large-scale industries surged by 12.4 percent, driven by remarkable growth in the mining (61.6 percent), manufacturing (8.7 percent), and utilities (24.8 percent) fields.

Investment trends were positive, with fixed asset investment growing steadily at 8.4 percent. Notably, high-tech industries experienced rapid growth, with a 27.3 percent increase in investment, particularly in high-tech services which soared by 108.8 percent.

The per capita disposable income of urban residents reached 14,550 yuan, marking a 5.3-percent nominal growth, while the per capita disposable income of rural residents increased by 7.8 percent to 6,273 yuan.