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15 July 2015

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Hunan’s Industrial Economic Growth Stays Stable in First Three Quarters

2017-10-20 Download Print

For the first three quarters of this year, Hunan’s industrial economy registered a stable performance with optimized industrial structure and good momentum for growth.

The new car production line at the Changfeng Huaxiang (Leopaard) Industrial Park in the Changsha Economic and Technical Development Zone (CETDZ) was put into trial operation this July. About 5,000 CS9 cars, Leopaard’s new model, were sold last month.

Hunan’s automobile industry is in full swing. A batch of GAC MITSUBISHI, GAC FAC, and SAIC VOLKSWAGEN new car models were produced. The CETDZ’s automobile industry achieved an output value of 73.16 billion yuan between January and September, increasing by 50% over the same period last year. The annual target is 100 billion yuan, and the production capacity is expected to exceed one million cars.

Statistics showed that Hunan’s equipment and consumer goods sectors grew rapidly, giving a strong impetus to the province’s economic development. In the first three quarters, the equipment manufacturing businesses above the designated size made an added value growth of 13.4% year on year. The manufacturing sector witnessed a recovery of investment attraction, which has risen for seven consecutive months. Hunan’s industrial economy utilized more than US$5.67 billion of overseas investment, increasing by 15.4% year on year.

The whole industry has been upgrading. The medium-high level industrial sectors developed rapidly. For the first three quarters, the added value of the deep processing and high-tech industries above designated size grew by 11.8% and 14.1% respectively. Meanwhile, the added value of the raw material industry and six major energy-consuming industries dropped.

Industrial parks maintained a good momentum of growth. For the first three quarters, industrial parks at or above provincial level realized an industrial added value growth of 9.3% over last year. Private investment picked up every month with an estimated growth rate of 13.3% between January and September. More than 15% growth was seen in the sectors of infrastructure construction, ecological environment protection, and projects involved in improving people's livelihood.

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Translator: Pang Yuehui

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