Hunan's industrial economy has maintained overall stability and steady progress thanks to efficient coordination of epidemic prevention and control and economic and social development. In the first three quarters, the added value of large industrial enterprises in the province increased by 7.4% year on year, higher than the January-August period figures, said the Hunan Provincial Bureau of Statistics recently. Among them, the added value in September grew 8.2% year on year, achieving a recovery for five consecutive months.

In the first three quarters, Hunan's growth rate of the added value of large industrial enterprises ranked 10th nationwide. The province's three major industries – mining; manufacturing; and, electricity, heat, gas and water production and supply – all registered growth. Among the 39 major industries, 33 saw year-on-year growth in added value, accounting for 84.6%. Nine cities (prefecture) reported an accelerated growth in added value compared with the previous eight months.

The manufacturing industry has provided strong support to the industrial growth. In the first three quarters, the added value of the province's large manufacturing enterprises increased by 7.8% year on year, contributing 94.3% to the growth of the province's large-scale industry. The added value of high-tech manufacturing and equipment manufacturing grew rapidly, registering a year-on-year increase of 23.6% and 11.2% respectively. High-tech manufacturing accounted for 13.3% of all large industrial enterprises, 1.2 percentage points higher than the same period last year. The industrial structure has further optimized, with new drivers playing a leading role.

The output of high-tech products has seen booming growth. In the first three quarters, 59.2% of products of large industrial enterprises that were counted registered an increase in output. Electronic information products and new energy vehicles have grown rapidly. 

Industrial development has maintained stronger momentum. In the first three quarters, the province's industrial fixed asset investment increased by 16.2%, 5.1 percentage points higher than the national level; of which, investment in high-tech manufacturing increased by 22.4%. The growth rate of industrial investment in 8 cities (prefecture) exceeded 20%.

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

Translator: Xiao Juan

Chinese source: hunan.gov.cn