Chengdu’s GDP Sees Steady Growth in H1

Authors: Go Chengdu

2014-09-04

Chengdu’s GDP in this year’s first half reached RMB484.28billion(approx.US$78.11billion), a year-on-year increase of 8.7% and 0.9 percentage point higher than the first quarter, according to the latest data released by the Chengdu Municipal Bureau of Statistics on July 27.
In the past half year, the city’s primary, secondary and tertiary sectors accomplished an added value RMB12.7billion (approx. US$2.05billion), RMB225.77billion (approx. US$36.41billion) and RMB245.81billion (approx. US$39.65billion) respectively, rising 3.3%, 9.4%, 8.6% compared with the same period of last year.
During the six months, the city’s added value from industries above the designated scale soared 12%, 3.2 percentage points higher than the national average and 2.4 percentage points than the average level of Sichuan Province, topping all deputy-provincial cities in China. The automobile industry and manufacturing industry of electronic information products performed well with their added values soaring 27% and 16.9% respectively.
Driven by such electronic giants as Dell, Lenovo and Wistron, Chengdu’s hi-tech industries maintained a relatively rapid growth and realized further industrial restructuring. The city’s hi-tech industries above the designated scale saw an added value of 16.8%, 4.8 percentage points higher than the city’s average growth rate, official data showed.
From January to June, Chengdu’s service sector showed a strong momentum of growth, with an added value jumping 8.6% year on year to RMB245.81billion (approx. US$ 39.65billion). In addition, the added value from the financial sector went up 13.8%.
Chengdu’s consumer price index (CPI) growth remained flat compared with the first quarter. In this year’s first half, the city’s CPI decreased 1.6 percentage points. The food price rose 2.4% and household appliances and maintenance services prices rose 2.1%. Moreover, the Product Price Index (PPI) fell by 0.7%.
In the first six months, the total retail sales of consumer goods jumped 13% to RMB205.08billion (approx. US$33.08billion). With an increase of 47.0%, the online retail sales of above designated companies amounted to RMB6.46billion (approx. US$ 1.04billion), and auto sales realized RMB49billion (approx. US$7.90billion), up 22.3% over the same period of a year ago.
As to the foreign trade volume, the city’s total foreign trade volume went up 12.8% to RMB26.84billion (approx. US$4.33billion), 11.6 percentage points higher than the national average. In the first half, the total volume of exports increased 8.9% to US$16.62billion, 8% higher than the national average.

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