Hainan province has officially released its economic performance for the first quarter of 2021.
In the first quarter, the GDP of the province increased by 19.8% year on year. The economy continued to recover steadily and the growth rate of various major indicators are off to a good start.
In the first quarter, the provincial GDP was 139.599 billion Yuan, a year-on-year growth of 19.8% and an average two-year growth of 7.0%.
The added value for primary industry was 3,059.1 billion Yuan, a year on year growth of 5.2% and an average two-year growth of 2.8%.
The added value for secondary industry was 2,181.3 billion Yuan, a year on year growth of 18.8% and an average two-year growth of 2.0%.
The added value for tertiary industry was 87.195 billion Yuan, a year on year growth of 25.5% and an average two-year growth of 9.8%.
1. Agricultural production grew steadily
In the first quarter, the added value for agriculture, forestry, animal husbandry and fisheries increased by 5.2% year-on-year to 31.337 billion Yuan.
2. Industrial production and the construction industry
In the first quarter, the province’s industrial sector added value reached 13.061 billion Yuan, a year on year growth of 14.8%, an increase of 3.0% compared with the first quarter of 2019.
In the first quarter, the added value of the province’s construction industry reached 8.78 billion Yuan, a year on year growth of 24.7% and an increase of 4.9% compared with the first quarter of 2019.
3. The service sector grew rapidly, with the construction of the free trade port contributing to the rapid development of new business forms
In the first quarter, the added value of the province’s service industry increased by 25.5% year on year, contributing 78.9% to overall economic growth.
Emerging industries in the service sector developed rapidly from January to February
Operating income for Internet and related service enterprises above a designated scale increased by 26.1% year on year.
Operating income for software and information technology service enterprises increased by 65.7% year on year.
Operating income for business service enterprises increased by 124.7% year on year.
Operating income for professional and technical service enterprises increased by 48.9% year on year.
4. Investment growth rate increased
In the first quarter, fixed asset investment increased by 20.3% year on year. That is an increase of 18.4% over the first quarter of 2019 and the two-year average growth of 8.8%.
Investment in non-real estate development increased by 14.7% year on year.
Industrial investment increased by 24.6% year on year. Investment in infrastructure and public services rose by 4.5% and 37.1% respectively year on year.
5. Consumer goods market growth trend
In the first quarter, the total retail sales for consumer goods in the province reached 54.639 billion Yuan, increasing by 61.6% year on year, an increase of 10.9% compared with the first quarter of 2019, and a two-year average growth of 5.3%.
Duty-free goods, cars and other upgraded products continue to sell well. Among the retail sales of units above a designated scale, the sales of automobiles increased by 111.9%, cosmetics increased by 255.5%, Gold, silver and jewelry categories increased by 355.1% and communication equipment increased by 150.8% .
6. Import of goods increased, Import and export of services grew rapidly
In the first quarter, the total volume of import and export goods in the province reached 26.206 billion Yuan, an increase of 29.8% year on year and an increase of 5.5% compared with the first quarter of 2019, and a two-year average growth of 2.7%
The total import and export volume for the service trade in the first quarter was 6.681 billion Yuan, an increased of 55.6% year on year, 38.9% higher than that in the first quarter of 2019 and a two year average growth of 17.9%.
7. Consumer prices decreased year on year and factory prices for industrial producers recovered
In the first quarter, the province’s consumer price index (CP1) decreased 1.3% year on year.
In the first quarter, factory prices for industrial producers increased by 1.3%. Purchasing prices for industrial producers decreased by 5.2%.
8. People’s incomes increased and people’s livelihood continued to improve
In the first quarter, the per capita disposable income for permanent residents in the province reached 7,926 Yuan, a nominal increase of 11.7%.
Among this, the per capita disposable income for urban residents was 10,550 Yuan, a nominal increase of 9.3%. The per capita disposable income for rural residents was 4,703 Yuan, a nominal increase of 18.6%.
In the first quarter, people’s livelihood expenditure increased by 6.2% year on year.
9. Clean energy power generation increased substantially
In the first quarter, the environmental air quality rate reached 99.4%. Water quality of drinking water sources in prefecture-level cities reached 100% of standards.
In the first quarter, the power generated from industrial clean energy above a designated scale was 3.679 billion kWh, an increase of 82.2% year on year, accounting for 47.1% of the industrial power generated above a designated scale, an increased of 18.4% year on year.
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