In July, Linfen City’s economy continued to show a generally positive trend, which was better than the same period and better than expected, laying the foundation for the city’s efforts to promote high-quality development to comprehensively improve quality and speed.
1. The industrial growth rate hit a new high for the year, and the steel industry performed brilliantly
In July, the city's industrial added value above designated size increased by 16.3% year-on-year, 5.5 percentage points faster than in June, setting a new high for the year. From a category perspective, the added value of the mining industry increased by 18.6% year-on-year, driving the city's regulated industrial growth by 14.2 percentage points, strongly supporting the city's industrial economic growth; from an industry perspective, the coal industry's added value increased by 17.3% year-on-year, driving the growth rate of regulated industries. 12.8 percentage points, continuing to play the role of ballast; the steel industry grew by 40.5% year-on-year, turning negative into positive, driving the growth rate of industrial enterprises above designated size to increase by 12.8 percentage points, showing a positive trend.
Investment in secondary and tertiary industries has accelerated, and private investment has accelerated its recovery
From January to July, the city’s fixed asset investment was 36.04 billion yuan, a year-on-year increase of 5.8%. In terms of industries, the investment in the primary industry was 1.63 billion yuan, an increase of 5.3%; the investment in the secondary industry was 16.72 billion yuan, an increase of 4.5%; Investment in the tertiary industry was 17.69 billion yuan, an increase of 7.1%. In terms of sectors, private investment was 18.65 billion yuan, a year-on-year increase of 5.3%, 4.2 percentage points faster than the first half of the year; real estate development investment was 8.41 billion yuan, a year-on-year increase of 28.5%, 0.8 percentage points faster than the first half of the year.
3. The consumer market is steadily improving, and service consumption has picked up significantly
In July, the city’s retail sales of consumer goods subject to restrictions reached 1.70 billion yuan, a year-on-year increase of 8.0%, an increase of 0.6 percentage points from June. There was strong support from bulk commodities. The retail sales of petroleum commodities above designated size increased by 23.8% year-on-year, driving up the retail sales above designated size by 4.0 percentage points. Catering consumption grew rapidly. The city's catering revenue above designated size increased by 19.3% year-on-year, 7.1 percentage points higher than in June. ; The tourism market continues to heat up. The number of visitors to key monitored scenic spots in the city increased by 118.9% year-on-year, ticket revenue increased by 92.3% year-on-year, and operating income increased by 166.1% year-on-year.
IV. Development momentum continues to increase, and the private economy becomes more active
New economic investment is accelerating. From January to July, the city’s high-tech manufacturing and high-tech service industry investment increased by 169.2% and 50.4% respectively, much higher than the total investment. Emerging industries are growing rapidly. In July, the added value of the city's strategic emerging industries, high-tech manufacturing and equipment manufacturing industries increased by 22.0%, 33.4% and 21.3% respectively, which were 5.7, 17.1 and 5.0 percentage points higher than the above-scale industries respectively. The private economy is developing well. In July, the added value of private industries above designated size increased by 22.1% year-on-year, which was 5.8 percentage points higher than that of industries above designated size.
5. Financial market support is strong, and employment and prices are generally stable
The financial market has strong support. As of the end of July, the deposit balance of the city's financial institutions was 415.05 billion yuan, an increase of 7.3% from the beginning of the year; the loan balance of financial institutions was 260.45 billion yuan, an increase of 10.7% from the beginning of the year. Employment prices remained stable. As of the end of July, the city had 37,807 new urban jobs, completing 80.4% of the full-year target. In July, the city's consumer price dropped slightly by 0.2% year-on-year.
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