Investment Dynamics
Changchun’s Economy Maintained a Good Momentum in the First Three Quarters
Date:2017/12/04 10:55:00 Author: Source:

In the first three quarters of this year, with the vigorous promotion of a series of pragmatic measures, the economy of Changchun has maintained a good momentum of "steady progress and continuous improvement" and the trend of increasing both quality and quantity has been further consolidated. According to preliminary accounting, in the first three quarters of this year, completed GDP of RMB 426.29 billion, growing 8%, large-scale industrial added value reached RMB 194.68 billion, growing 9.3%, fixed-assets investments reached RMB 407.38 billion, growing 11.5%, total retail sales of social consumer goods reached RMB 211.96 billion, growing 10.9%, and local fiscal revenue reached RMB 33.75 billion, growing 8.2%.


The main indicators ran at a high level and the economy’s degree of first place continued to improve. GDP growth rate was 2.3 percentage points higher than the province's, ranking first in the four cities of Northeast China and in the middle and upper reaches of sub-provincial cities, the industrial, investment, consumption, finance and other major indicators’ growth rate was higher than the province’s and took a leading position in in the four cities of Northeast China, the position in deputy provincial-level cities progressively grew and the economy’s degree of first place continued to improve.


The "tertiary, secondary and primary" industrial pattern accelerated forming and the industrial structure continued to optimize. In the first three quarters, the city's service industry’s added value increased 8.9%, 0.9 percentage points higher than the GDP growth rate, the service industry’s investment increased 12.7%, the service industry’s tax revenue growth rate maintained at 9% or above, key service industrial enterprises above the designated size’s operating revenue increased 30.2%, and large commercial complexes such as Eurasian new life shopping plaza, Sand Boat (Middle East) outlet, New Hualian outlet and Xincheng Wuyue plaza have been completed and put into operation in succession; large-scale industrial added value growth rate was 3.9 percentage points higher than the province’s, ranking fifth in deputy provincial-level cities, seven key industries’ added value grew 9.1%, and high-tech industries, local industries and small-, medium-sized micro-enterprises’ increased 24.1%, 14.5% and 15.2%, respectively; the agriculture supply side structural reform progressed steadily.


Old and new kinetic energy continued to convert and the development momentum continued to increase. The city's projects with an investment of above RMB 100 million numbered 1,243, the project amount and progress simultaneously improved and the scale and speed of investment topped the four cities in Northeast China. In the first three quarters, the number of newly registered private-owned enterprises in the city increased 22.9% and newly registered individual industrial and commercial households increased 22.4%; national high-tech enterprises and little-giant enterprises of science and technology recognized were expected to reached 197 and 261, 2.7 and 3.9 times over the previous year, and entrepreneurship and innovation added fresh impetus for development.


The leading indicators strongly supported and the quality and efficiency continued to improve. In the first three quarters, Changchun's local fiscal revenue accounted for 37.6% of the full-caliber revenue. The per capita disposable income of urban residents increased 6.3%, the registered unemployment rate in urban areas was 3.39%, and the number of new jobs in urban areas was 108,000, completing 98.4% of the targets and tasks for the year. The electricity consumption of the whole society increased 5.7% and the sales of industrial land increased 77%, reflecting the city's economic growth had a high quality.

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