Guizhou's economy stabilizes in Jan-July

Since the beginning of this year, Southwest China's Guizhou province has made every effort to stabilize economic growth, achieved stable production and supply growth and balanced market demands.

During the first seven months of this year, Guizhou's added value of industries above designated size increased by 10.5 percent year-on-year, 7 percentage points higher than the national average.

Among the 19 major industries being monitored, 11 realized increases and five realized double-digit growth.

Guizhou's total added value of the four pillar industries of coal, electricity, tobacco and alcohol increased by 18.4 year-on-year.

The added value of alcohol, beverages and refined tea increased by 45.4 percent year-on-year, while the tobacco industry realized 11.6 percent growth in July.

Industries related to coal and electricity increased by 3 percent and 3.5 percent year-on-year, respectively, during the first seven months of this year.

In the same period, Guizhou's fixed asset investment increased by 8.1 percent year-on-year, which was 2.4 percentage points higher than the national average.

The retail sales of consumer goods above designated size reached 151.08 billion yuan ($21.78 billion), an increase of 4.5 percent year-on-year, 2.8 percentage points higher than the national average.