In the first three quarters of this year, Hainan saw an accelerated market supply, increased demands and increasingly vigorous economic activity.
A number of indicators achieved positive growth, and economic vitality was rekindled. In the first three quarters, Hainan's GDP growth rate was 0.4 percentage points more than the national rate, fixed asset investment growth rate was 7.6 percentage points higher than the national rate, and total retail sales of consumer goods grew by 2 percentage points higher than the national level. Hainan's GDP was 384.131 billion Yuan, and the added value of the primary industry was 80.611 billion yuan, an increase of 1.9percent. The added value of the secondary industry was 73.448 billion yuan, down 1.5percent while the added value of the tertiary industry was 230.072 billion yuan, up 1.7percent. The overall economy is seeking improvement in stability. In the third quarter, Hainan's GDP, service industry and other major economic indicators achieved positive growth. In particular, the retail sales of offshore duty-free goods have maintained a high growth rate continuously since April.
The contribution of the tertiary industry increased.The added value of the tertiary industry rose from a drop of 2.8percent in the first half of the year to a growth of 1.7percent in the first three quarters, driving GDP growth by 1.0 percentage point, and its pulling effect increased by 2.6 percentage points compared with the first half of the year. It was the most pivotal factor in driving the overall economy from negative to positive growth.
Project construction saw a continuous accelerated development, and investment continued to grow rapidly.The leading role of large projects has been enhanced. In the first three quarters, non-real estate investment projects with a planned total investment of more than 1 billion yuan accounted for 48.1percent of Hainan’s total, spurring a 4percent increase and playing a positive role in promoting the steady recovery of investment.
Hainan’s GDP growth rate:
0.4 percentage points＞the national rate
Fixed asset investment growth rate：
7.6 percentage points ＞ the national rate
Fotal retail sales of consumer goods growth rate:
2 percentage points ＞ the national level
Hainan’s GDP was 384.131 billion Yuan
The added value of the primary industry: 80.611 billion yuan
an increase of 1.9%
The added value of the secondary industry: 73.448 billion yuan
the added value of the tertiary industry was 230.072 billion yuan
The overall economy: seeking improvement in stability
The added value of the tertiary industry
-2.8% in the first half-year → +1.7% in the first three quarters
GDP：+ 1.0 percentage point
its pulling effect + 2.6 percentage points compared with the first half-year
The most pivotal factor: from negative to positive growth
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