Hunan GDP Exceeds Four Trillion Yuan in 2020
The Hunan Provincial Government Information Office held its 2020 Hunan Economic and Social Development Press Conference on January 19. The Hunan Provincial Bureau of Statistics announced that Hunan Province¡¯s 2020 GDP was more than 4,178 billion yuan, an increase of 3.8% over last year. Hunan's economic aggregate exceeded 4 trillion yuan for the first time.
Hunan, in a year of the COVID-19 epidemic and floods, assured stability on six fronts: employment; the financial sector; foreign trade; foreign investment, domestic investment, and expectations. Security in six areas was maintained: job security, basic living needs, operations of market entities, food and energy, stable industrial and supply chains, and the normal functioning of primary-level governments.
Hunan¡¯s economy rose steadily and reached a new level. Economic structures were optimized and quality and efficiency improved.
Industrial development had a balanced recovery which stabilized economic trends. In 2020, primary industry increased by 3.7% year-on-year, and the growth rate of the added value of agriculture, forestry, animal husbandry and fishery increased by 0.4 percentage points compared with the previous year. The secondary industry increased by 4.7% year-on-year, and the growth rate of the added value of industrial enterprises above designated size increased by 2.9 percentage points compared with the first half of the year. The tertiary industry grew 2.9% year-on-year, and the growth rate of operating income of service enterprises above designated size in the first 11 months rose by 4.3 percentage points from the first half of the year.
Social demand continued to improve, demonstrating market confidence. Hunan¡¯s fixed asset investment increased by 7.6% year-on-year, 2.9 percentage points faster than the first half of the year. The investment in major projects grew particularly fast, with investment in major projects worth over 50 million yuan increased by 44.2%. The total retail sales of consumer goods exceeded 1.6 trillion yuan, and the consumer market saw recovery. Investment attraction has grown rapidly, and the amount of the actually utilized foreign funds and the paid-in domestic investment both recorded a double-digit growth.
Hunan¡¯s economic development delivered more tangible results, and market vitality was further stimulated. Hunan¡¯s larger high-tech manufacturing industries added value increased by 16% in 2020. This is six percentage points higher than the first half of 2020. Industrial growth in medium-and-higher industries increased. General industry, high-tech industry, health and social work and along with some weaker sectors strengthened. The investment structure has been optimized. Mid- to high-end consumer products such as automobiles have had sales increased steadily. Consumption has been further increased. Between January and November, structural optimization and adjustment increased total profits of the larger industrial enterprises by 7% over last year . Hunan province¡¯s local general public budget revenue was 30.087 billion yuan for 2020. Hunan sees a massive wave of innovation and entrepreneurship. More than 216,000 new enterprises registered. This is an increase of 6.4% over 2019 averaging nearly 600 new enterprises per day.
Source: enghunan.gov.cn
Hunan, in a year of the COVID-19 epidemic and floods, assured stability on six fronts: employment; the financial sector; foreign trade; foreign investment, domestic investment, and expectations. Security in six areas was maintained: job security, basic living needs, operations of market entities, food and energy, stable industrial and supply chains, and the normal functioning of primary-level governments.
Hunan¡¯s economy rose steadily and reached a new level. Economic structures were optimized and quality and efficiency improved.
Industrial development had a balanced recovery which stabilized economic trends. In 2020, primary industry increased by 3.7% year-on-year, and the growth rate of the added value of agriculture, forestry, animal husbandry and fishery increased by 0.4 percentage points compared with the previous year. The secondary industry increased by 4.7% year-on-year, and the growth rate of the added value of industrial enterprises above designated size increased by 2.9 percentage points compared with the first half of the year. The tertiary industry grew 2.9% year-on-year, and the growth rate of operating income of service enterprises above designated size in the first 11 months rose by 4.3 percentage points from the first half of the year.
Social demand continued to improve, demonstrating market confidence. Hunan¡¯s fixed asset investment increased by 7.6% year-on-year, 2.9 percentage points faster than the first half of the year. The investment in major projects grew particularly fast, with investment in major projects worth over 50 million yuan increased by 44.2%. The total retail sales of consumer goods exceeded 1.6 trillion yuan, and the consumer market saw recovery. Investment attraction has grown rapidly, and the amount of the actually utilized foreign funds and the paid-in domestic investment both recorded a double-digit growth.
Hunan¡¯s economic development delivered more tangible results, and market vitality was further stimulated. Hunan¡¯s larger high-tech manufacturing industries added value increased by 16% in 2020. This is six percentage points higher than the first half of 2020. Industrial growth in medium-and-higher industries increased. General industry, high-tech industry, health and social work and along with some weaker sectors strengthened. The investment structure has been optimized. Mid- to high-end consumer products such as automobiles have had sales increased steadily. Consumption has been further increased. Between January and November, structural optimization and adjustment increased total profits of the larger industrial enterprises by 7% over last year . Hunan province¡¯s local general public budget revenue was 30.087 billion yuan for 2020. Hunan sees a massive wave of innovation and entrepreneurship. More than 216,000 new enterprises registered. This is an increase of 6.4% over 2019 averaging nearly 600 new enterprises per day.
Source: enghunan.gov.cn