Changsha sees 8.5 percent increase of GDP in H1
Changsha, capital city of Hunan province, recorded 475.74 billion yuan ($70.45 billion) in GDP for the first half of 2017, an 8.5 percent increase year-on-year, according to the Changsha statistics bureau on July 20.
The bureau said the third industry, industrial production, investment value and consumption index maintained strong and stable growth.
The third industry remains a pillar, with 223.93 billion yuan in added value, and a 10.2 percent year-on-year growth, contributing to 47 percent to the city's total GDP.
Industrial production showed strong momentum with a total added value of 162.35 billion yuan, an 8.1 percent increase on last year. High-tech manufacturing industry and intense processing industry were up 17 and 13 percent respectively owing to industrial structure optimization.
Investment, especially in industrial, private, new energy and public welfare investment, maintained a stable growth of 13 percent, with 351.94 billion yuan of fixed asset investment.
Regulation aiming to boost Changsha's industrial real economy put forward by the government earlier this year took the credit for the further nudge it brought to local economic development.
Internet Plus, a strategy put forward by the central government aiming to promote e-commerce, proved a success, recording a 39 percent growth in online trade during the first half of 2017.
Consumption was also up 10.6 percent to 212.62 billion yuan.
Source: Changsha Evening News