The Hunan Provincial Government Information Office held a press conference on 2021 Hunan Blue Book on June 21. Tang Yuwen, deputy secretary of CPC Leadership Group and deputy director of the Hunan Provincial Government Development Research Center, said that since this year, the economic vitality of Hunan Province has further strengthened; supply and demand recovery has accelerated; and, Hunan’s economy has four major characteristics.

Main indicators showing restorative trend at a swift pace. From January to April, major economic indicators are encouraging. They are the added value of industries above designated size, fixed-asset investment, and total retail sales of consumer goods.

Economic operation registered high quality and efficiency. From January to April, the profits of industrial enterprises above designated size increased 51.8%, and the average increase for last year and this year was 18.6%. The operating income profit rate of industrial enterprises above designated size was 6.49%, showing an increase compared with the same period in 2020 and 2019.

Emerging industries had strong power. From January to April, the added value of Hunan’s high-tech manufacturing industries above designated size increased 25.9%, and the average growth rate for last year and this year was 16.4%. The growth rates of advanced manufacturing industries such as special equipment, general equipment, and computers all exceeded 30%.

Social assistance and people’s livelihood maintained stable. From January to May, expenditures on people’s livelihoods accounted for about 70% of general public budget expenditures. Among them, expenditures on education, science and technology, culture, and housing security increased 14.2%, 18.6%, 11.5%, and 12.1% respectively. From January to May, there were 349,000 new jobs in urban areas, completing 49.9% of the annual task.

Tang Yuwen said that in the second half of the year, it is expected that private investment will remain active and infrastructure investment will continue to improve. Consumption will continue to grow rapidly with the gradual recovery of the catering and accommodation industry. Export costs will rise but external demand will remain strong. Synthetic judgment of economic growth will help fill the gap caused by COVID-19 epidemic.

This article is from Hunan Provincial Government www.enghunan.gov.cn.

Translator: Xiao Juan

Chinese source: hunan.gov.cn