Guangxi’s economy has shown signs of recovery and stability in the first three quarters of this year, according to the latest data released by the Statistics Bureau of the Autonomous Region and the Guangxi Survey Team of the National Bureau of Statistics.
During this period, the region’s GDP reached 1.965425 billion yuan, representing a year-on-year increase of 3.9% at constant prices. The primary industry saw a growth of 4.6% in added value, reaching 240.994 billion yuan, while the secondary industry increased by 3.2% to 648.978 billion yuan. The tertiary industry also experienced growth, with a 4.1% increase in added value, totaling 1,075.453 billion yuan.
Furthermore, high-tech manufacturing has played a significant role in driving the region’s economic recovery. The added value of high-tech manufacturing increased by 9.2% year-on-year, surpassing the overall growth rate of industries above designated size by 3.2 percentage points. Notable increases were observed in industries such as electronic and communication equipment manufacturing (18.6%), information chemicals manufacturing (17.2%), and pharmaceutical manufacturing (4.0%).
The service industry also showed signs of recovery, particularly the modern service sector. Operating income for service industry enterprises above designated size rose by 8.4% year-on-year from January to August, with the high-tech service industry leading the growth at 15.2%. Notably, e-commerce services, R&D and design services, and information services experienced significant increases of 70.0%, 40.0%, and 20.9% respectively.
Consumer demand in Guangxi has gradually increased, leading to a decrease in the decline of fixed asset investment. The region’s total retail sales of consumer goods increased by 1.5% year-on-year. While fixed asset investment fell by 13.2% year-on-year, this decline was 7.9 percentage points narrower than in the first half of the year. Some manufacturing industries witnessed rapid investment growth, such as the papermaking and paper products industry (77.3% increase) and the petroleum processing, coking, and nuclear fuel processing industries (63.1% increase).
Residents’ income in Guangxi has steadily increased, and the employment situation remains generally stable. The per capita disposable income of residents in the region reached 21,833 yuan, marking an actual increase of 5.2% after adjusting for price factors. Additionally, the region created 319,500 new urban jobs, re-employed 91,200 unemployed individuals, and supported 32,400 people facing employment difficulties.
To prioritize people’s livelihoods, the region has effectively guaranteed livelihood expenditures, with 79.0% of the general public budget expenditures invested in fields directly benefiting the population. Expenditures in health, social security and employment, and education increased by 13.0%, 4.3%, and 4.1% respectively.
Despite these positive developments, consumer prices in the region have remained stable. Overall, the price of goods and services experienced “five increases and three decreases.” Clothing prices went up by 2.2%, other supplies and services by 2.0%, education, culture, and entertainment by 1.5%, and medical care by 1.2%. On the other hand, transportation and communications decreased by 3.2%, housing by 1.1%, and daily necessities and services by 0.9%.
Overall, Guangxi’s economy has shown resilience and continued recovery in the first three quarters of this year, with industries, services, and consumer demand gradually improving. Authorities continue to prioritize people’s livelihoods, ensuring stable employment and steady income growth for residents, while also keeping consumer prices stable.