The Hunan Provincial Bureau of Statistics released data on August 19 showing that Hunan recorded a stable economic performance between January and July, continuing its momentum of sound and innovation-driven growth.

Industrial output remained stable. From January to July, the added value of industries above designated size rose by 2.6% year on year, with the growth rate at the same level as that of the first six months. The equipment manufacturing sector saw a 3.7% increase in its added value, 0.9 percentage points higher than in the January-June period. Among its sub-sectors, the metal products segment grew by 16.3%, special equipment manufacturing by 6.9%, and electronic information manufacturing by 6.2%.

Industrial enterprises' profit growth turned positive. From January to June, the total profits of industrial enterprises above designated size rose by 0.3% year on year, 2.8 percentage points higher than in the first five months, marking the first positive growth since March. The total profits of service enterprises above designated size grew by 3.1%, with the sports sector up 31.2% and the software and IT services sector up 18.0%.
  
The service industry recorded modest growth. From January to June, the operating revenue of service enterprises above designated size rose by 1.0% year on year. In the transportation and logistics sector, the operating revenue of transport agency enterprises rose by 14.5% and that of general warehousing by 14.9%. In the information services sector, the revenue of software development enterprises rose by 12.7%, and information system integration and IoT technology services by 17.7%. Driven by sports events and the performing arts, the revenue of film and television production grew by 11.5%, literary and artistic creation by 9.4%, sports organizations by 20.3%, and fitness and leisure activities by 15.0%.
 
High-tech industries recorded relatively fast growth. From January to July, the added value of high-tech manufacturing enterprises above designated size increased by 4.6% year on year, 0.6 percentage points faster than in the January-June period, with the electronic and communication equipment sector growing by 8.1% and the pharmaceutical sector by 6.2%.

Certain categories of consumer demand continued to gain momentum. During the first seven months, retail sales of basic living goods from wholesale and retail firms above designated size rose by 2.7% year on year, 0.1 percentage points faster than in the first six months. Retail sales of communication equipment grew by 10.7%, while retail sales of wearable smart devices newly covered by the national consumer goods trade-in program this year, such as smart glasses, surged by 53.7%, 8.8 percentage points faster than in the first six months.

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

Translator: Pang Yuehui

Chinese source: hunan.gov.cn