Between January and November in 2020, Huizhou’s fixed asset investment reached 215.681 billion yuan, an increase of 15.4%, an increase of 0.7 percentage points over the previous three quarters. On December 25, 2020, Huizhou released its economic performance between January and November in 2020. The data suggested that, despite the adverse impact caused by the Covid-19 epidemic and the complex domestic and international trading environment, Huizhou managed to maintain a relatively stable economic growth.
Huizhou speeds up the development of major industrial projects
The data released by the Statistics Bureau suggested that Huizhou saw a rapid growth in its fixed asset investment, which was largely due to the increase in industrial investment. In November 2020, the added value contributed by industrial enterprises above designated scale saw a rise of 7.4%, 6.0% higher than the growth rate in September. In the first 11 months of 2020, the added value contributed by industrial enterprises above designated scale reached 147.183 billion yuan, 1.2% higher than the growth rate in the first three quarters. In general, 24 sectors all saw a significant rise compared to the first three quarters.
It is worth mentioning that among Huizhou’s “2+1” modern industrial clusters the added value by the electronics industry had a rise of 3.5%, 0.3% higher than the growth rate in the first three quarters, petrochemical energy/new materials a drop of 1.1% in added value and 1.1% decrease of growth rate, life health an increase of 0.7% in added value and up 1.5% in terms of growth rate compared to that in the first three quarters.
Between January and November 2020, the added value contributed by high-tech manufacturing and advanced manufacturing saw a rise of 4.1% and 1.1% respectively, 4.1% and 1.1% higher than the average growth rate of added value by industrial enterprises above designated scale.
Behind the increased amount of investment is the market confidence, and the construction of major investment projects also facilitates the rise of the fixed asset investment. Between January and November, 2020 the fixed asset investment of Huizhou reached 215.681 billion yuan, an increase of 15.4%, up 0.7% in terms of growth rate compared to that in the first three quarters. Industrial investment and real estate development investment grew by 21.7% and 8.3% respectively, up 0.4% and 1.7% respectively from the previous three quarters. Infrastructure investment grew by 33.5% and investment in high-tech industries by 24.0%, while investment in the electronics and communications equipment manufacturing, computer and office equipment manufacturing sectors grew by 23.3% and 233.1% respectively, and investment in advanced manufacturing increased by 21.1%, with investment in the equipment manufacturing sector increasing by 24.3%.
The consumer market has recovered steadily, and retail sales of some commodities have continued to grow
Total retail sales of consumer goods in the city fell 10.0% to 157.731 billion yuan from January to November, a decrease of 1.8% from the previous three quarters.
The growth rate of wholesale, retail, accommodation and catering sectors increased by 0.9%, 2.4%, 6.4% and 3.0% respectively over the previous three quarters. In terms of retail sales of commodities, the growth rate of refined oil products decreased by 1.1% compared with the previous three quarters, the growth rate of auto retail sales increased by 4.9% over the previous three quarters, the overall retail sale saw a drop of 5.0% over the past three quarters, while retail sales of home appliances rose 4.8% from the previous three quarters. Retail sales of some commodities continued to grow, with better-growing commodities including communications equipment and grain and oil, up 13.6% and 5.1% respectively. From January to November, the city's sold commercial housing sales reached 15.8687 million square meters, an increase of 3.1%, with the sale volume reaching 182.958 billion yuan, an increase of 9.2%.
Huizhou also had a much improved foreign trade. Between January and November 2020, the total foreign trade volume reached 222.178 billion yuan, including 151.143 billion yuan of export trade and 71.035 billion yuan of import trade, and the actual utilization of foreign capital reached 4.891 billion yuan.
Experts from the Statistics Bureau believed that China’s economy would continue to growth in the future, however, many uncertainties, such as deteriorating international environment, still remain. Huizhou will continue to embrace the high-quality development strategy, deepen supply-side reform, expand domestic demand and ensure accomplishing the annual social and economic development targets.
Reported by: HUANG Anmei