Home> Latest

Huzhou's economy thrives in Q1

chinadaily.com.cn| Updated: April 23, 2024 L M S


Visitors seen in a scenic attraction in Huzhou, Zhejiang province. [Photo/WeChat account: huzhoufabu]

Huzhou's economy experienced a surge in the first quarter of this year, with its gross domestic product reaching 964.3 billion yuan ($133.06 billion), marking a 7.7 percent year-on-year increase. This outperformed national and provincial averages by 2.4 and 1.6 percentage points, respectively, as recently announced by local authorities.

Specifically, the primary industry saw a 4 percent increase year-on-year, reaching 23.2 billion yuan, while the secondary industry recorded an 8.9 percent growth to 467.8 billion yuan, and the tertiary industry expanded by 6.7 percent year-on-year to 473.3 billion yuan.

The added value of industrial companies above the designated size grew by 11.5 percent to 302.8 billion yuan. Particularly noteworthy is the added value of the 17 key traditional manufacturing industries in the city, which climbed by 12.7 percent.

The service industry recorded 47.33 billion yuan in added value, marking a 6.7 percent year-on-year increase, surpassing national and provincial averages by 1.7 and 1.2 percentage points, respectively.

Huzhou's fixed-asset investment grew by 8.8 percent during the three-month period, with high-tech industry investment up by 23.4 percent, manufacturing industry investment by 20.9 percent, and environmental protection, transportation, energy, and water conservancy investment by 18.9 percent.

The city's foreign trade rebounded rapidly, with total import and export volume reaching 48.05 billion yuan, an 18.8 percent year-on-year increase.

Over the same period, retail sales of social consumer goods in the city totaled 42.62 billion yuan, marking an 8.7 percent increase.

Sales of cosmetics, jewelry, tobacco, and alcohol, as well as clothing and textiles at above-quota trading units, experienced respective increases of 36.8 percent, 23.6 percent, 18.7 percent, and 17.1 percent. Additionally, retail sales of electric vehicles surged by 48.0 percent, indicating sustained consumer demand for the new energy-powered vehicles.

The city's general public budget revenue for the past three months reached 17.07 billion yuan, a 1.9 percent increase. General public budget expenditures totaled 17.21 billion yuan, with livelihood expenditures amounting to 131.9 billion yuan, or 76.6 percent of the total budget expenditure.

Incomes for residents also saw steady growth, with per capita disposable income reaching 21,445 yuan, a 5.4 percent nominal year-on-year increase. Specifically, per capita disposable income for urban residents reached 24,768 yuan, reflecting a 4.7 percent increase, while per capita disposable income among rural residents reached 16,196 yuan, marking a 6.7 percent increase.