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Fujian province records 4.5% GRP growth in 2023

gofujian.com.cn | Updated: 2024-01-25

According to the report on the work of the people's government of Fujian province delivered at the second session of the 14th Fujian Provincial People's Congress on Jan 23, the following are the new achievements in economic and social development according to preliminary statistics in 2023.

●Gross regional product (GRP) hit 5.43 trillion yuan ($760.2 billion), an increase of 4.5 percent over the previous year;

●Revenue in the general public budget was 590.7 billion yuan, up 9.8 percent;

●Revenue in the local general public budget amounted to 359.1 billion yuan, an increase of 7.6 percent;

●Fixed asset investment increased by 2.5 percent;

●Total retail sales of consumer goods grew by 5 percent;

●Imports and exports decreased by 0.2 percent;

●Per capita disposable income of urban residents increased by 4.3 percent, and that of rural residents by 6.9 percent;

●The surveyed urban unemployment rate stood at 4.8 percent; and

●Consumer prices remained stable compared to the previous year.

The year 2024 marks the 75th anniversary of the founding of the People's Republic of China and is a crucial year for achieving the goals and tasks set forth in the 14th Five-Year Plan (2021-25).

Fujian hopes to make greater progress in building a modern economic system, to better serve and integrate into the country's new development paradigm, to make bigger strides in exploring new approaches to integrated development across the Taiwan Strait, and to make greater breakthroughs in helping people achieve a higher quality of life.

Fujian will stay true to the general principle of pursuing progress while ensuring stability, fully and faithfully apply the new development philosophy on all fronts, work to create a new pattern of development, promote high-quality development, and ensure both development and security.

It will work to make itself a demonstration zone for integrated development across the Taiwan Strait, continue to develop the real economy and pursue scientific and technological innovation.

Fujian will continue working to strengthen the economy in terms of both quality and growth, improve people's well-being, maintain social stability, and make new breakthroughs in the province's Chinese-style modernization.

The main expected targets for the economic and social development of Fujian province in 2024 are as follows:

● GRP growth of around 5.5 percent;

● An increase of around 6 percent in general public budgetary revenue;

● An increase of around 5.5 percent in local government revenue;

● A 5 percent increase in fixed asset investment;

● A 6.5 percent increase in total retail sales of consumer goods;

● Export growth of 5.5 percent;

● A surveyed urban unemployment rate of around 5.5 percent;

● CPI increase of around 3 percent;

● Per capita disposable income of residents growing in line with economic growth;

● Grain output of more than 5.07 million metric tons ; and

● Energy consumption per unit of regional GDP to decrease as scheduled according to national targets.

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