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15 July 2015

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Added Value of Hunan’ Industrial Enterprises above Designated Size Increased by 7.6 % in the Past Five Months

2018-06-26 Download Print Comment
According to the statistics released by the Hunan Provincial Bureau of Statistics on June 24, the added value of Hunan’s industrial enterprises above designated size increased by 7.6 % between January and May compared with the same period of last year. The growth rate equals that of the first four months.
As a whole, the supporting role of the pillar industries, such as cigarettes and cars, is still very obvious. In the previous five months, the contribution rate of the tobacco products industry and automobile manufacturing industry in the province ranked top four. The added value increased by 13.5% and 12.5% respectively, which were far faster than the average growth rate of Hunan’s industrial enterprises above designated size. 
This year the base quota of shutdown and maintenance of petroleum processing and coking, and nuclear fuel processing industry was low, and the crude oil processing plan was increased. The added value of the petroleum processing and coking, and nuclear fuel processing industry in the first five months thus increased by 2.5 times compared to the same period of last year. In May this year, the added value grew by 9.6 times over last May.
However, the momentum of industrial growth began to show signs of decline. In May, the number of leading industries above designated size who enjoy growing added value reduced compared with last month. The growth trend of new industries began to weaken. The growth rate of high processing industry and high technology industry was lower than last month. The production of high energy consumption industries, such as building materials, chemical and non-ferrous industries, remained low under the circumstances of high pressure caused by pollution prevention and control.
The Hunan Provincial Bureau of Statistics pointed out that the urgent task at the moment is to strengthen the growth momentum of industries. Convenient conditions should be created for new projects; problems encountered by the projects under construction solved in active manner; the efficiency of project put in operation sped up; and the physical workload formed as soon as possible; and new industrial project which has been put into operation driven to give its full play. 
At the same time, it is necessary to strengthen monitoring and early warning of key industries, pay close attention to the recent trend of the running of those industries that show a decline trend. It is important to follow the dynamic tracking of periodic industries such as steel, non-ferrous, chemical and building materials, to give early and timely warning of abnormal fluctuation and problems of trend and tendencies, and to take measures to tackle them as early as possible.
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Translator: Liu Pingbo
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