Huai'an China News and Events
Huai'an Sees Strong Economic Progress in H1
time:2024-08-01

According to the unified accounting results of regional GDP, Huai'an's GDP in the first half of this year was RMB 258.664 billion, up 7.1% year on year at constant prices. The added value of the primary industry was RMB 13.007 billion, up 2.7%; that of the secondary industry was RMB 109.896 billion, up 9.0%; and that of the tertiary industry was RMB 135.761 billion, up 6.1%.

The growth in industrial production occurred at a swift pace. In the first half of this year, Huai'an's industrial added value above designated size increased by 10.1% year on year. By industry, the added value in 23 out of 34 industrial categories has seen an increase. Among these, the rapid development is notable in electrical machinery and equipment manufacturing, chemical fiber manufacturing, automobile manufacturing, alcohol, beverages and refined tea manufacturing, and computer communication and other electronic equipment manufacturing, with growth rates of 101.1%, 53.9%, 32.8%, 27.5%, and 22.8%, respectively. These advancements have collectively driven a 9.2 percentage point increase in the city's total added value. These sectors play a significant role in bolstering the city's industrial economy. 

Investment remained effective and continued to lead. In the first half of this year, Huai'an's fixed-asset investment increased by 14.0% year on year, 10.3 percentage points higher than that of Jiangsu Province. The growth rate of industrial investment reached 22.8%, 8.8 percentage points faster than that of fixed-asset investment above designated size. In terms of project funding sources, private investment increased by 17.8 percent, accounting for 83.2 percent of the fixed-asset investment above designated size.

Financial credit operated steadily. By the end of June, the balance of domestic and foreign currency deposits in financial institutions across the city stood at RMB 713.372 billion, a year-on-year increase of 5.7%. Among the sum, the balance of household deposits was RMB 368.943 billion, up 14.0%. The balance of loans in domestic and foreign currencies for financial institutions was RMB 848.905 billion, up 14.7%. The balance of manufacturing loans and small and micro-loans increased by 26.5% and 30.8% respectively, 11.8 percentage points and 16.1 percentage points higher than the overall loan growth rate.