区域研究报告：山西省及下辖各市经济财政实力与债务研究（2024）

Economic Analysis - Shanxi Province is a significant energy base and mineral resource province in China, with a strong reliance on coal and related industries despite ongoing supply-side reforms and manufacturing revitalization efforts [1][8] - In 2023, Shanxi's GDP reached 2.57 trillion yuan, ranking 20th nationally, with a growth rate of 5%, slightly below the national average [1][8] - The province's per capita GDP was 74,000 yuan, approximately 82.8% of the national level, while urban residents' disposable income was 41,300 yuan, about 79.84% of the national average [1][8] Fiscal Strength - Shanxi's fiscal strength is primarily based on general public budget revenue, which slightly exceeded the previous year's scale in 2023, reaching 347.94 billion yuan, ranking 13th nationally [2][25] - Tax revenue in 2023 was 255.70 billion yuan, a decrease of 5.2%, while non-tax revenue increased by 21.8% to 92.23 billion yuan [2][25] - The province's general public budget self-sufficiency rate was 54.83%, indicating a relatively low level of fiscal self-sufficiency [3][34] Debt Situation - By the end of 2023, Shanxi's government debt balance was 708.25 billion yuan, ranking 27th nationally, with a year-on-year growth of 12.68% [5][6] - The debt burden is concentrated in local cities, with significant debt levels in Taiyuan, Datong, and Linfen, where the debt-to-budget revenue ratio exceeds three times in some cities [5][6] Industrial Structure - The industrial structure of Shanxi is heavily reliant on coal and related industries, with coal production reaching 1.388 billion tons in 2023, accounting for nearly one-third of the national output [9][18] - The province is undergoing industrial transformation, focusing on high-end, green, and intelligent development, with significant growth in non-coal industries such as photovoltaic and new energy vehicles [17][18] Service Sector - The service sector in Shanxi showed resilience in 2023, with a value-added increase of 5.0%, contributing 48.5% to the overall economic growth [19][20] - Tourism in Shanxi experienced significant growth, with key scenic spots receiving 80.7 million visitors, a 163.4% increase from the previous year [19][20] Investment and Consumption - In 2023, fixed asset investment in Shanxi decreased by 6.6%, with a notable decline in the manufacturing sector [21][22] - The province implemented a series of consumption-boosting policies, resulting in a 5.5% increase in total retail sales of consumer goods in 2023 [22][23]