Guiyang's economy continues to recover in Q1

Over the first three months of 2022, Guiyang city in Southwest China's Guizhou province has shown a steady economic recovery, and showed strong resilience based on several major indicators surveyed.

Per capita disposable annual income of urban and rural households reached 13,407 yuan ($2,024) and 5,507 yuan, up 5.9 percent and 6.6 percent respectively.

Due to the combined impact of increasing prices for international crude oil and bulk commodities, Guiyang's consumer price index saw a year-on-year increase of 1 percent in Q1.

Only food and drink prices were lower, down by 3.7 percent compared with the same period last year, while the prices of seven other categories of products and services rose to a varying degree.

Transport and communication prices were up 6.2 percent in the period. Elsewhere, education, culture and entertainment prices went up 3.9 percent in Q1, garments were up 3.8 percent, healthcare rose 1.3 percent, residence also gained 1.3 percent, and living necessities and related services were up 1 percent.

Affected by the surge in raw material prices, Guiyang's producer price index during the first quarter increased by 8.5 percent on a yearly basis. 

The city's labor force participation rate reached 62.7 percent, with the employment-to-population ratio hitting a low not seen since the second quarter of 2020. The limited population movement due to the novel coronavirus pandemic and the shrinking capabilities of businesses to absorb employment accounted for a lower employment rate.