Consumption picks up, investment grows, industry recovers, Hangzhou’s economic momentum is further consolidated from January to April
The reporter from Hangzhou Daily learned from the Hangzhou Statistics Bureau that driven by many favorable factors in investment, consumption and industry, the recovery of Hangzhou’s economic situation from January to April was further consolidated compared with the first quarter.
During the “May 1st” holiday that just passed, Hangzhou ushered in “retaliatory consumption” – 10.7433 million tourists were received, and the total consumption amounted to 14.642 billion yuan. The two figures are benchmarked against other cities at the sub-provincial level and below. top stream”.
Since April, the city’s consumer market has continued to pick up, and the service industry has improved significantly. From January to April, the city’s total retail sales of consumer goods reached 230.5 billion yuan, a year-on-year increase of 8.2%, 5.0 percentage points faster than that from January to March. “The recovery speed of the consumption and catering industries is particularly obvious. Compared with the first quarter, the retail sales of goods were 190.2 billion yuan, an increase of 6.0%, and the catering revenue was 40.3 billion yuan, an increase of 19.9%.” The relevant person in charge of the Hangzhou Statistics Bureau said. In addition, the tourism market is rapidly heating up, and the turnover of the accommodation industry and the catering industry increased by 56.9% and 16.9% respectively.
“Industry exhibitions are gradually returning to normal. We have more and more customers and orders, and our workshop production has been ramped up, and our confidence is getting stronger.” said Shou Bingyan, general manager of Hangzhou Quanshi Transmission Co., Ltd. Since April, Shou Bingyan has taken the team of Quanshi Transmission to participate in the 2023 Chinaplas and the 20th China Animal Husbandry Expo. As the “invisible champion” of the reducer industry, the “busy” of Quanshi Transmission reflects This shows that Hangzhou’s industrial economy is further recovering and the development momentum of emerging industries is constantly strengthening.
From the data point of view, from January to April, the added value of the city’s industrial enterprises above designated size was 134 billion yuan, a year-on-year decrease of 1.6%, and the rate of decline narrowed by 0.5 percentage points from January to March. In terms of major industries, the added value of electrical machinery and equipment manufacturing, instrumentation manufacturing, and automobile manufacturing increased by 33.7%, 30.0%, and 8.6% respectively.
“Investment”, one of the “troika” driving economic development, has played an important role. From January to April, investment still maintained a steady growth. From the beginning of the new year, the “Global Investment Promotion Season” was fully launched, and the world‘s top 500 companies continued to invest in Hangzhou. Central enterprise headquarters projects and five major industrial ecosystem projects were successively implemented. Hangzhou, a city of innovation and vitality The city is accelerating the accumulation of high-quality capital.
From January to April, the city’s fixed asset investment increased by 8.6% year-on-year, 0.3 percentage points faster than that from January to March. Among them, project investment increased by 7.4%, and real estate development investment increased by 9.8%. The investment structure tends to be optimized, with investment in high-tech industries increasing by 45.9%, and manufacturing investment increasing by 40.9%.
In general, the city’s economy continues to recover, and positive factors have accumulated and increased. However, it must also be noted that the international environment is still complex and severe. It will take time for the service industry and the consumption sector to resume the transmission of production, and the endogenous driving force for economic recovery still needs to be strengthened.
“In the next stage, we will focus on the direction of our efforts, implement a series of policy measures, accelerate the overall improvement of economic operation, and strive to create a new situation of high-quality development.” The Municipal Bureau of Statistics said.