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Innovation Drives Anhui’s Economy Heading Toward High-quality Development

source:Anhui Today release date:2018/10/09 hits:66

Recently, the “semi-annual report” of the province’s economy was released. In the first half of the year, the province’s GDP hit 1.4264 trillion yuan, an increase of 8.3 percent over the same period of the previous year. This ranks Anhui 6th in the country.

 “we can sum up the province’s economic operation in the first half of the year with one sentence. That is stably developed with high quality, better than being expected,” stated by responsible person from the Provincial Bureau of Statistics when he summarized the province’s economic trend in the first half of the year.

Since the beginning of this year, under the background of increasingly fierce competition at domestic and international forklift market, Anhui Since Forklift Group has maintained a strong momentum for development. New products such as new energy large-tonnage forklifts are in short supply. It sustains its edge over its competitors.

The overall good development momentum of the enterprises highlights the province’s economic operation in general.

 From the perspective of investment, fixed asset investment grew rapidly. In particular, the investment by private economic sector got accelerated.

In the first half of the year, the province’s fixed asset investment was increased by 11.8 percent, an increase of 1.1 percentage points over the same period of last year and 5.8 percentage points higher than the national growth rate. Industrial investment was increased by 13.4 percent, of which, investment into manufacturing industry was increased by 18.1 percent.

From the perspective of import and export, the province’s import and export rose rapidly. The province’s utility of foreign capital maintained a growth trend.

In the first half of the year, the province’s total import and export volume achieved US $31.06 billion, an increase of 26.3 percent. The growth rate was 0.4 percentage points higher than that of the same period of last year and 10.3 percentage points higher than the national growth rate, ranking Anhui 9th in the country. The province’s actual utility of foreign direct investment was 9.36 billion US dollars, an increase of 7 percent.

From the perspective of consumption, market sales grew steadily; and online retail sales, rapidly.

In the first half of the year, the province’s total retail sales of social consumer goods reached 584.71 billion yuan, an increase of 12 percent. The period-over-period growth rate remained the same as that of last year’s, which was 2.6 percentage points higher than the national one.

In the wholesale and retail trade above designated size, the online retail sales amounted to 20.7 billion yuan, an increase of 30.7 percent. Consumer prices hit a 1.7 percent year-on-year rise, and the increase was 1.3 percentage points lower than the annual control target.

“In the first half of the year, the province’s overall economic trend was stable. The growth rate of major indicators was faster than that of the whole nation. The quality and efficiency of the province’s economy continued to improve,” said Zhao Jinbao, deputy director and spokesperson for the Provincial Bureau of Statistics.

 “By benefiting from the continuous improvement of supply-side structural reforms, traditional industries have been revitalized and mobilized, contributing significantly to industrial growth,” commented Zhao Jinbao.

The growth rate of the residents’ income has been improved tremendously, ranking the province 1st in the nation.

In the first half of the year, the per capita disposable income for the province’s urban residents reached 17,057 yuan, an increase of 8.5 percent, ranking 6th in the nation. Anhui moves up 13 places in the national income growth rate ranking. The per capita disposable income for rural permanent residents was 7,472 yuan, an increase of 9.6 percent. The growth rate ranks Anhui 5th in the nation. It moves up 3 places in the national rural income growth rate ranking.

In the second quarter, positive changes in economic operations occurred. The market operation was getting better than being expected.

Compared with the first quarter, the province’s industrial added value above designated size, fixed assets investment, and total retail sales of social consumer goods were increased by 0.3, 0.3 and 0.4 percentage points respectively.

The Manufacturing Purchasing Managers’ Indices (PMI), which reflects market confidence, has been above the degree of concern for 13 consecutive months.

In June, a reading of 53.4 points was reported, up 0.8 percentage points over that of May, 1.9 percentage points higher than the national average. Of which, the new order index was 56.8 percent, up 1 percentage point.

 “The high-quality development trend for economic operation in the first half of the year is optimistic, presenting mainly ‘five synchronizations’. That is, the growth rate is synchronized with the efficiency improvement, with the structural optimization, with the vitality enhancement, with the innovation-driven development, and with the improvement of the ecological environment.” The responsible person from the Provincial Bureau of Statistics said.  

From the perspective of enterprise efficiency, the province’s industrial enterprises above designated size achieved a profit of 79.25 billion yuan in the first five months, an increase of 19.6 percent, 3.1 percentage points higher than the national average.

From the perspective of industrial structure, the added value generated by the high-tech industries was increased by 14.1 percent, which as 5.2 percentage points higher than the growth of the entire industrial added value.

At present, the favorable conditions support the economy to move towards high-quality development. while the external environmental uncertainty requires us to actively respond to the possible risk in the wake of uncertainty movements to ensure a stable and healthy economic operation.

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