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The Province’s Social and Economic Development of 2014 in Retrospect

source:Anhui Today release date:2015/04/07 hits:418

New Achievements Made under the Circumstance of the New Normal

On 22 January, the Information Office of the Provincial Government and Provincial Bureau of Statistics sponsored a press conference to brief Anhui’s economic and social development in 2014.

In 2014, the province’s GDP totaled 2084.88 billion yuan. According to comparable process, this is an increase of 9.2 percent. The growth rate is higher than that of the nation’s average which only stands 7.4 percent. The province’s per capita GDP accounted for 34427 yuan (about $5500).

In 2014, against the background of the goring-down and slow recovery of the world economy, the province maintained a stable and pretty fast economic growth, benefited by the hauling of the “Three Horse Troika.” Throughout the year, investment in fixed assets accounted for 2123.63 billion yuan, grown by 16.5 percent. The growth rate was 0.8 percentage points higher than that of the nation. The investment by the private sector became more vigorous. The private sector accomplished investment of 1468.1 billion yuan, with a growth of 20.9 percent, accounting for 69.1 percent of the province’s total. The total retail sales of consumer goods was 732.08 billion yuan, up 13 percent. The growth rate was 1 percentage point higher than that of the nation, ranking it second in the nation and first in central China. The total volume of imports and exports totaled $31.49 billion, with a growth of 11.5 percent. The growth rate was 5.4 percentage points higher than that of the nation.

The province made progress in the optimization of its economic structure. From the perspective of industrial structures, in 2014, the province realized the added value of 239.24 billion yuan from its primary industry, with an increase of 4.6 percent; added value of 1120.4 billion yuan from its second industry, with an increase of 10.3 percent; added value of 725.24 billion yuan from its tertiary industry, up 8.8 percent. The service sector’s contribution to the province’s economic growth was 34.8 percent, a year-on-year increase of 0.6 percentage points.

From the view of the dynamic structure of the development, in 2014 the province’s traditional industries including iron and steel, and coal mining indeed encountered many difficulties. But the strategic emerging industries and the development of the province’s six leading industries got accelerated.

The added value yielded by the province’s leading industries above designated size amounted to 730.32 billion yuan, up 11 percent. These industries ranged from electronic information and household appliances, automobile and equipment manufacturing, food and medicine, materials and new materials, textile and light industry, energy and new energy industry.

The contribution to the industrial economic growth by small and medium-sized enterprises and private enterprises maintained on-going improvement. The sector of the province’s small and medium-sized enterprises above designated size realized the added value of 605.99 billion yuan, with a growth of 13.8 percent; the sector of the private economy realized the added value of 646.2 billion yuan, a year-on-year increase of 13.9 percent, accounting for 67.8 percent of the province’s total industrial added value, rising from the previous year’s 64.5 percent. Its contribution to the overall growth of the industrial added value generated by the province’s small and medium-sized enterprises above designated size was 81.2 percent, increased by 8.5 percent.

In 2014, the income growth of residents in the province’s urban and rural areas kept pace with the province’s growth of GDP. The per capita disposable income of urban residents and rural dwellers were 24839 yuan and 9916 yuan respectively, with the respective actual growth of 7.2 percent and 10.3 percent. About 671000 new jobs were created. The province invested 68.63 billion yuan to implement 33 livelihood projects.