Tai'an in Shandong recently released the first-quarter economic performance report, showcasing the city's solid progress in economic recovery and growth. With a stable overall performance, the city achieved a promising start to the year, recording a regional GDP of 89.06 billion yuan ($12.21 billion).

In the agricultural sector, the city saw a total output value of 14.93 billion yuan, marking a 4.1 percent year-on-year growth when adjusted for comparable prices. Breakdown by industry reveals that agricultural output reached 8.4 billion yuan, up by 3.5 percent.

Industry, as the foundation of the real economy and a key driver of regional economic stability, continued to recover in the first quarter. With the sustained effects of various policies and the accelerated implementation of comprehensive reform measures, the city's industrial value added expanded by 8 percent year-on-year for enterprises above designated size.

The city's economic development was further fueled by the implementation of 24 projects covering industries such as aerospace, digital economy, high-end equipment manufacturing, pharmaceuticals and medical devices, textiles, modern food, healthcare and wellness, cultural tourism integration, and modern agriculture, with a number of contracts signed and projects initiated during the first quarter.

Investment momentum in the city continued to strengthen, with fixed asset investment growing by 4.8 percent year-on-year in the first quarter. The city's consumption market also remained vibrant, driven by policies promoting the exchange of old for new, leading to a surge in demand for upgraded consumer goods and a 5.9 percent year-on-year growth in total retail sales of consumer goods.

In the realm of foreign trade, the city continued to witness growth, with total import and export value reaching 15.29 billion yuan in the first quarter, representing a notable 34 percent increase.