New drivers of growth develop in Tai'an

(chinadaily.com.cn) Updated: 2020-05-27

Tai'an, East China's Shandong province, maintained steady progress in shifting from old to new growth drivers despite the impact of COVID-19 pandemic, local media reported.

Industrial production in the city has largely been restored. As of the end of March, 921 industrial enterprises above the designated size had resumed production with 205,000 employees returning to work.

Growth in agricultural production remained steady. In the first quarter, the city's total vegetable output hit 1.22 million tons, up 2.4 percent year-on-year. There is also a sufficient supply of consumer goods, and prices are stable. In early April, the daily output of vegetables exceeded 1,700 tons.

In addition, companies in the service industry are increasingly resuming operations. By the end of March, 91.1 percent of service enterprises in the city had resumed operations, 42.1 percentage points higher than the end of February.

Furthermore, the city's major sectors saw rapid development. A total of 132 million yuan ($18.5 million) was invested in high-end equipment and the intelligent manufacturing industry the first quarter.

A total of 40.51 billion yuan was invested in 10 new material industry projects, of which 8.09 billion yuan is expected to be invested by 2020.

The installed capacity of new energy in the city reached 2.71 million kilowatts, accounting for 43 percent of the city's total electric power, 21.9 percentage points higher than the provincial average.

Thanks to policy support, the city’s cultural tourism industry is also gradually returning to normal. Since March 21, the Mount Tai Scenic Area has received a total of 317,700 tourists, generating 30.36 million yuan in tourism revenue.