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15 July 2015

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Service Sector Contributes More to Hunan’s Economic Growth

2017-02-08 Download Print

Hunan’s service sector had reinforced its role as the largest industry in the province in 2016, contributing 58.2 percent to Hunan’s economic growth, according to the latest data released by the Development and Reform Commission of Hunan Province on Feb. 6, 2017.

Value added in Hunan’s tertiary industry increased 10.5 percent year on year, to 1.44 trillion yuan, 2.7 percentages higher than the national average and 2.6 percentage points higher than the provincial GDP growth. Of which, the value added in financial industry and for-profit service sector rose by 8 and 18.9 percent respectively; and that in real estate increased by 8.5 percent, 0.9 percentage points higher than the same period of last year.

It was said that the value added of the tertiary industry accounted for 46.3 percent of the provincial GDP, 2.1 percentage points higher than the previous year; and, its financial sector accounted for 4.1 percent, up 0.1 percentage points.

In 2016, the value added in high and new technology industries increased 16 percent to 685.92 billion yuan, accounting for 22 percent of GDP, while growth was respectively 25.1 percent, 21 percent, and 16.2 percent for high-tech industry, biomedical technology, and electronic information.

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Translator: Xiao Juan

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