Heshan City Achieves Strong Economic Growth in First Half of Year
Heshan City, located in Jiangmen, recently released its semi-annual economic report, which revealed impressive growth in the region. According to the report, the regional GDP of Heshan City reached 22.383 billion yuan in the first half of the year, an increase of 4.7% compared to the same period last year. This growth rate was 0.1 percentage points higher than the growth rate in the first quarter.
Heshan City has been focusing on accelerating economic recovery and promoting high-quality development since the beginning of the year. The city has seized opportunities, such as the “top leader” project in the manufacturing industry and the “high-quality development project of hundreds of counties, thousands of towns, and thousands of villages.” These initiatives have contributed to the consolidation and expansion of the economic recovery momentum in Heshan City.
The report highlights the strong performance of the three major industries in Heshan City. The added value of the primary industry increased by 3.0%, reaching 1.729 billion yuan. The added value of the secondary industry increased by 4.5%, reaching 11.948 billion yuan. The added value of the tertiary industry increased by 5.1%, reaching 8.706 billion yuan. These positive growth indicators reflect the steady progress towards high-quality development in the city.
In terms of industries above designated size, the report shows that the added value of these industries reached 10.043 billion yuan, an increase of 3.9%. The non-ferrous metal smelting and rolling processing industry and the general equipment manufacturing industry were the top performing sectors, with growth rates of 27.5% and 15.2% respectively.
The high-tech manufacturing industry also showed significant growth, with an increase in added value of 10.8% compared to the previous year. This growth rate was 6.9 percentage points higher than the overall growth rate of the city’s designated industrial enterprises. The added value of the above-scale equipment manufacturing industry also increased by 6.4%.
Heshan City’s industrial economic development is reflected in the electricity consumption indicators, which are seen as a “barometer” of the economy. The city’s industrial electricity consumption increased by 4.2% in the first half of the year, ranking second in Jiangmen City.
In terms of agricultural production, Heshan City saw an increase in the total output value of agriculture, forestry, animal husbandry, and fishery. The output value of forestry increased by 8.3%, animal husbandry by 10.7%, fishery by 4.8%, and agriculture, forestry, animal husbandry, and fishery auxiliary activities by 8.4%.
The consumer market in Heshan City also showed signs of accelerated recovery. The city’s tertiary industry’s electricity consumption increased by 18.2%, ranking first in Jiangmen City. The total retail sales of social consumer goods reached 7.013 billion yuan, an increase of 5.4%, ranking second in Jiangmen City. Cultural tourism activities and the “night economy” played a crucial role in stimulating consumption.
In terms of finance and financial industry, Heshan City achieved steady growth. The general public budget revenue increased by 1.0% to reach 1.598 billion yuan. Local and foreign currency deposits of financial institutions increased by 25.4% to 78.997 billion yuan, and local and foreign currency loans increased by 12.4% to 64.944 billion yuan.
The driving force behind Heshan City’s economic growth was the investment in fixed assets, which increased by 3.4% in the first half of the year. Industrial investment was particularly robust, with a growth rate of 22.2% and accounting for 66.5% of fixed investment.
Heshan City has been actively promoting investment in the manufacturing industry, with a particular focus on attracting investment in the industrial chain and new tracks. The city’s investment promotion efforts have paid off, with 42 projects worth more than 100 million yuan introduced in the first half of the year, with a total planned investment of 15.835 billion yuan.
In addition, Heshan City has been working on the implementation of the “top leader” project in the manufacturing industry and has introduced 40 newly-incorporated “Four Top” enterprises. Key manufacturing projects, such as LONGi Green Energy and Xinyi Glass, are also progressing rapidly, providing strong support for industrial development in Heshan City.
Overall, Heshan City has achieved remarkable economic growth in the first half of the year, driven by its focus on high-quality development and investment promotion. The city’s efforts towards economic recovery and development have paid off, positioning Heshan City as a strong contender in the regional economy.