Ordos economy rebounds despite epidemic impact
Updated: 2020-09-03 Print
The economy is rebounding in Ordos city in North China’s Inner Mongolia autonomous region despite the lingering impact of the novel coronavirus outbreak, according to information from Ordos’ government.
Statistics show that from January to July, the added value of the city’s industrial enterprises above designated size fell by 11.9 percent year-on-year, and the growth rate dropped 0.3 percentage points from January to June, 11.5 and 9.8 percentage points lower than those across the country and in the autonomous region.
In the first seven months of the year, the city's fixed-asset investment fell by 15 percent year-on-year, and the growth rate rose 18.3 percentage points from January to June – 0.4 percentage points higher than that of the autonomous region. The rate of decline has narrowed for four consecutive months.
The city's general public budget revenue fell 19.1 percent year-on-year from the start of the year until the end of July.
The decline in fiscal revenue does not affect the city’s priority on guaranteeing people's livelihood expenditures. From January to July, the city's livelihood expenditure was 15.88 billion yuan, a year-on-year increase of 0.4 percent, accounting for 52.4 percent of general public budget expenditures.
In the same period, the whole society's electricity consumption was 45.44 billion kWh, an increase of 7.5 percent. In comparison, industrial power consumption was 41.12 billion kWh, an increase of 6.3 percent. Meanwhile, financial deposits and loans grew steadily.
As of the end of July, the city’s financial institution deposit balance was 407.23 billion yuan, a year-on-year increase of 3.1 percent, and the loan balance was 335.59 billion yuan, a year-on-year increase of 2.6 percent.
The freight volume of civil aviation and railway continued to improve. The city's railway and civil aviation freight volume decreased by 1.9 and 0.6 percentage points, respectively, from January to June. They narrowed by 1.9 and 0.6 percentage points respectively from January to June.