Baotou's economy well on road to recovery
The city of Baotou, located in North China's Inner Mongolia autonomous region, implemented a series of policies since the start of the year to stabilize the economy, which has seen a healthy momentum established in the return to production by its businesses and a recovery in spending.
According to the latest statistics from the Baotou municipal bureau of statistics, from January to May, the added value of industries above a designated size in the city increased by 17.8 percent year-on-year, the first rebound since growth slowed down.
From the perspective of product output, among the 30 major industrial products in the city, 20 have achieved growth. From January to April, the city's manufacturers above a designated size, those with annual revenue of 20 million yuan or more ($2.98 million), achieved a combined operating income of 157.82 billion yuan, a year-on-year increase of 36.5 percent.
In the first five months, the city has reportedly achieved great results in energy conservation and consumption. From the perspective of energy consumption, the city's total energy consumption by above-scale industries was the equivalent of 13.06 million metric tons of standard coal, a year-on-year increase of 5.9 percent.
In addition, entering May, the consumer market gradually resumed to normal. In the month, the decline in retail sales of consumer goods for businesses above a designated size in the city narrowed by 8.5 percentage points compared with April, showing a recovery trend.