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15 July 2015

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Hunan’s GDP Exceeds 3,459 Bln CNY

2018-01-23 Download Print

The Hunan Statistics Bureau on January 19 released the preliminary data of Hunan’s economic and social development of 2017.

 

According to the data, Hunan’s annual GDP reached 3,459.056 billion CNY, increasing by 8% which is 1.1 percentage points higher than the national average.

The economy has registered a stable performance with good momentum for growth. Agricultural production grew stably, especially grain and pig output. Industrial production picked up again, with automobile manufacturing, electronic information, and equipment manufacturing contributing most. Service industry maintained a good momentum for growth.

As for demand growth, fixed asset investment across the province hit 3 trillion CNY for the first time. Private investment registered a faster growth. The consumer market remained stable. Imports and exports grew rapidly.

The pace of economic structural adjustment has accelerated. Industrial structure continued to be optimized. Equipment manufacturing and consumable sector maintained a stable growth. The hi-tech manufacturing and processing industry registered good momentum for growth. The value added for the six major high energy-consuming industries decreased. The investment structure was improved, with the investment in overcapacity sectors notably shrank. The consumption structure upgraded, with an increasing proportion of sports and recreation articles, home appliance, and office supplies.

Economic performance has been improved. Revenue in the general public budgets reached 456.569 billion CNY, increasing by 7.4%. The non-tax revenue decreased notably.

In 2017, Hunan’s economy grew, and the people’s livelihood has been improved. Based on expanding employment and stable commodity prices, the average per capita disposable income was above the GDP growth. Strong measures have been taken on poverty alleviation. The annual targets in dilapidated rural house renovation, drinking water safety, road quality enhancement, and relocation of the poor to overcome difficulties, were overfulfilled.

Please refer to www.enghunan.gov.cn when using the article.

Translator: Pang Yuehui

Chinese source: hunan.gov.cn