Guangming's economic performance strong in first three quarters

Guangming District recently unveiled its economic data for the first three quarters of the year, showcasing a resilient performance with a focus on progress and stability.

With an array of policies taking effect, the district has seen positive outcomes in advancing towards high-quality development while maintaining overall economic stability.

The regional GDP of the district for the first three quarters of 2024 was reported at 118.58 billion yuan (US$16.6 billion), reflecting an 8% year-on-year growth. The primary industry experienced a 17.5% decrease in value added, standing at 151 million yuan, while the secondary industry saw a notable 10.4% growth, reaching 86.6 billion yuan. The tertiary industry marked a 2.2% growth, totaling 31.83 billion yuan.

Industrial enterprises above designated size (with an annual operating revenue of 20 million yuan or more) recorded a 9.5% year-on-year growth in value added, with the manufacturing and energy sectors showing promising increases of 8.5% and 19%, respectively.

Consumer goods retail sales in the district witnessed a 4.3% increase, with significant growth observed in categories such as household appliances, food products, and communication equipment, signaling positive momentum in the consumer market.

The construction industry exhibited an 87.3% growth in total output value, with top enterprises enhancing their competitive edge, setting a strong foundation for the district's construction sector.

Strategic emerging industries experienced a 9.4% growth, surpassing the GDP growth rate and playing a crucial role in supporting overall economic growth. Notable growth was seen in sectors such as aerospace, new energy, smart terminals, and high-definition displays.

The district's general public budget revenue surged by 23.4%, with focused expenditure in key areas ensuring the strategic allocation of resources, particularly in social security, employment, and essential public services.

The released economic data indicates Guangming District's robust economic performance and strategic focus on sustainable growth in key sectors, reflecting a promising trajectory for the district's economic landscape.