Chengdu’s GDP Reaches RMB384.56 Bln in Q1

Authors: Go Chengdu


The Chengdu Bureau of Statistics released April 23 on its official website the city’s GDP in this year's first three months, which reached RMB384.56 billion, dropping 3.0% from the same period of last year.
In the period, the city's added value of the primary industry was nearly RMB9.18 billion, a year-on-year decrease of 2.0%; that of the secondary industry close to RMB110.20 billion, a year-on-year decrease of 3.5%; and that of the tertiary industry roughly RMB265.17 billion, a year-on-year decrease of 2.8%.
Due to the COVID-19 outbreak, Chengdu suffered an unprecedented economic slowdown in January and February. To mitigate the impact of the epidemic on the local economy, the city government adopted a number of policies to support local companies and industries.
Chengdu’s GDP  in Q1
In the three months, the industries relating to epidemic prevention and control saw a significant increase. The added values of those involving the electronic information and pharmaceuticals rose 9.5% and 9.8% respectively. And the output of medical masks grew 6.6 times.
The revenues from software and information technology services as well as Internet-based sectors rose 16.6% and 18.9% respectively in January and February.
In foreign trade aspect, Chengdu maintained a sound momentum of growth. In the first quarter, the city's foreign trade volume hit RMB139.82 billion, increasing 14.1% year on year. And the Chengdu Hi-Tech Comprehensive Bonded Zone topped all of its Chinese counterparts for the 24th consecutive month in terms of the gross export and import volume.
The Chengdu International Railway Port ran a total of 799 inbound and outbound cargo trains, including 447 running along the China-Europe Express Railway, up 36.3% and 92.7% year on year respectively. In addition, the port handled, for the first time, over one million import and export transactions via cross-border e-commerce, 21 folds over the same period of a year ago.
During the period, 144 foreign-invested companies were newly registered in the city, which received a total foreign-invested fund of RMB14.17 billion, a year-on-year rise of 1.7%, and a foreign direct investment (FDI) amounting to US$250 million.

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