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15 July 2015

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Hunan GDP Up 7.6% in First Half of This Year

2017-07-21 Download Print

The Hunan Provincial People’s Government Information Office held a press conference on July 19, announcing the Hunan Provincial economic operation in the first half of the year. Hunan’s gross domestic product (GDP) for that period increased by 7.6% year on year to more than 1.52 trillion yuan at comparable price, 0.7 percentage points higher than the national average. The economy has registered a good momentum for growth.

The industrial operation remains stable generally. The province's primary industry realized an added value of 127.899 billion yuan, an increase of 2.8% compared with the same period last year and 0.8 percentage points faster than the first quarter; the secondary industry added value was 632.595 billion yuan, an increase of 6.6% and flat to the first quarter; and, the tertiary industry added value was 767.057 billion yuan, an increase of 9.5% over the same period last year, and 0.7 percentage points faster than the first quarter this year.

The growth in demand is relatively stable. The province completed a fixed assets investment of over 1.23 trillion yuan, up 12.4% year one year; with a sharp growth on private investment by 11.5%. The consumption continued to upgrade: the total retail sales of consumer goods of Hunan Province increased by 11%. Those in tourism, culture, and entertainment sectors increased rapidly. The foreign trade also witnessed rapid growth. The provincial total import and export volume amounted to 100.679 billion yuan, a year-on-year increase of 67.5% and ranking top three nationwide.

Moreover, the revenue and expenditure of Hunan’s general public budget kept steady growth in the first half. The provincial general public budget revenue was 244.866 billion yuan, an increase of 6.2%. The local fiscal revenue was 152.461 billion yuan, up by 6.5%. The provincial fiscal expenditure growth accelerated. The increase rate in the people's livelihood expenditure was higher than those of the general public budget. The province achieved 424, 000 new urban employments, completing 60.6% of the annual target.

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Translator: Yu Jiangjiang

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