Hunan’s economy recovered steadily from January to July

Hunan Provincial Bureau of Statistics announced on the evening of August 16 that the province’s economic operation has steadily recovered from January to July, and the quality and efficiency of development have continued to improve. Among them, private investment turned from negative to positive, with a year-on-year growth of 1.9%, up 3.4 percentage points from the first half of the year.

Industrial production has accelerated. The province’s scale industrial added value increased by 7% year-on-year, of which July increased by 7.5%, 1.9 percentage points faster than June. The added value of equipment manufacturing increased by 8.4%, driving the scale of industrial growth by 2.6 percentage points.

Investment growth has rebounded. The province’s fixed asset investment increased by 3.2% year-on-year, 2.8 percentage points faster than the first half of the year; industrial investment increased by 11%, 5.4 percentage points faster than the first half of the year, among which investment in electricity, heat, gas and water production and supply industries and infrastructure investment increased by 16.7% and 5.5% respectively.

Consumption is basically stable. The total retail sales of social consumer goods in the province was 1,180.92 billion yuan, a year-on-year increase of 5.6%. The grain, oil, food, beverage and daily necessities of limited legal entities increased by 10.5%, 15.2% and 17.6% respectively. The catering revenue of limited legal entities increased by 13%, which was faster than the first half of the year. Among them, beverage and cold drink services and formal dining services increased by 19.8% and 14.7% respectively.

Innovation drive has been strengthened. The added value of high-tech manufacturing industries above designated size in the province increased by 15.7% year-on-year, among which electronic and communication equipment, computers and office equipment increased by 22.2% and 25.7% respectively. In scale industries, the output of optoelectronic devices, logic chips, mobile phones, lithium-ion batteries and other products increased by 21.1%, 28.9%, 22% and 19.8% respectively.

Market vitality has been improved. There are 1,660 new “four-up” units in the database, with a net increase of 460. The province’s passenger turnover increased by 7.8%, and the express delivery business volume increased by 28.9%. At the end of July, the balance of deposits in RMB and foreign currencies of financial institutions in the province was 8.03 trillion yuan, an increase of 6.1%, and the balance of various loans was 7.33 trillion yuan, an increase of 8.7%.