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Fuzhou's economic output expands 8.5% in H1

chinadaily.com.cn | Updated: 2019-07-26


Fuzhou's gross domestic product (GDP) stands at 352.85 billion yuan ($52.66 billion) in the first half of this year. [Photo provided to chinadaily.com.cn]

Fuzhou, capital of East China’s Fujian province, maintained steady growth in in the first half of this year, local media reported on July 24.

According to the Fuzhou municipal bureau of statistics, the city's economy expanded at a faster rate than the provincial average over the period.

Fuzhou's gross domestic product (GDP) stood at 352.85 billion yuan ($52.66 billion), a yearly uptick of 8.5 percent, 0.4 percentage points faster than the provincial average.

Other prime economic indicators also show strong growth.

The growth of industrial output above designated size stood at 8.6 percent, while the figure for total retail sales of consumer goods and investment in fixed assets were 11.3 percent and 7.2 percent, respectively.

Over the period, the city made strides in industrial transformation and upgrading. Official data shows that the proportion of high-tech sectors and strategic emerging industries in Fujian rose to 10.6 percent and 23.7 percent respectively.

Sales of new energy vehicles produced in the area soared by 203.6 percent, while smart household appliances and cellphones increased 88 percent and 34.1 percent.

Market vitality was strengthened in the first half of the year.

There was a total of 2.5949 million workers, up 232,100, 9.8 percent higher than the same period last year.

The business operations index for industrial companies above designated size – defined as state-owned and non-state-owned industrial companies with annual revenue more than 20 million yuan ($2.9 million) – and business confidence index were 130.7 and 130.3 respectively, both indicating buoyant market vitality.

A survey shows that 78.8 percent of enterprises above the designated size in the service sector said their profits were stable, while 88.4 percent believed that the tax burden had been reduced, and 96 percent expressed confidence about the demand for labor.

The city also ramped up efforts to improve people's livelihoods.

In June, the CPI in Fuzhou’s urban area edged up 2.6 percent, indicating a mild level of inflation.

The per capita disposable income of urban and rural residents increased by 8.1 percent and 9.5 percent.

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