Position:  News
Shijiazhuang's Q1 GDP leads China
Time:2022-05-20 16:48:30

The regional GDP of Shijiazhuang – capital of North China’s Hebei province – registered 174.19 billion yuan ($25.71 billion) over the first quarter of this year, up 10.1 percent year-on-year, putting national attention on the city. It achieved high scores among China’s 41 key cities.

Economic data in this period suggests that Shijiazhuang currently boasts an improved industrial structure, economically beneficial construction projects, and stable consumption market growth.

The pull of the secondary industry has been strengthened, with its contribution to economic growth up by 14.5 percentage points on a yearly basis. In addition, Shijiazhuang’s fixed asset investments continue to grow at a faster speed, while total retail sales of consumer goods stood at 54.85 billion yuan, up 15.8 percent.

With the goal of building more than five 100-billlion-yuan-class industrial clusters, the city has established a 20-billion-yuan development fund for dominant sectors and has spared no effort to promote new breakthroughs in electronic information and biomedicine, which had generated 7.95 billion yuan and 11.5 billion yuan in sales revenue during the first two months of 2022, respectively.

A total of 469 projects involving a total investment of 100.17 billion yuan and 956 old residential area renovation programs all commenced during the first quarter.

“Market confidence is expected to be further boosted by a number of positive factors, such as an optimized business development, industrial upgrading, and technological innovation,” said Xu Longjiao, director of the Shijiazhuang municipal bureau of statistics.