Pingnan's GDP slow to 5.9% in Q1

( chinadaily.com.cn )

Updated: 2015-05-05

Pingnan's GDP totaled 1.08 billion yuan ($174.16 million) in the first quarter, 5.9 percent more than 2014, according to a recent government report. Its growth rate ranked seventh among all the counties of Ningde city.

Influenced by the tough macroeconomic environment, the growth of some major economic indicators in Pingnan was moderate. The industry slowdown affected the county’s economy.

The added value of agriculture amounted to 129.62 million yuan, 2.2 percent more than 2014; that of industry achieved 533.05 million yuan, up 6.2 percent; and that of service industry totaled 418.4 million yuan, up 6.4 percent.

Agriculture, forestry, animal husbandry and fisheries grew smoothly and steadily, with 135.26 million yuan of the total added value, increasing 2.4 percent over 2014; and 232.21 million yuan of the total output value, increasing 2.4 percent over 2014.

The growth in industry dropped. Sixty-nine enterprises with annual revenue of 20 million yuan or more had a total industrial output value of 1.88 billion yuan, 7.5 percent less than 2014; and had added value of 475.35 million yuan, 8.1 percent less than 2014.

Investment grew fairly rapidly. Investment in fixed assets increased 28.7 4 to 699.56 million yuan, with 682.02 million yuan invested in projects and 17.54 million yuan in real estate. Agriculture received 11.08 million yuan of investment and industry received 130.57 million yuan, falling 21.7 percent and 30.6 percent over 2014, respectively. The service sector received 557.91 million yuan, jumping 63.4 percent.

The growth of sales slowed down. The total retail sales of consumer goods rose 4.2 percent over 2014 to 457.99 million yuan, 1.9 percent less than Ningde’s average growth rate.

Exports experienced relatively fast growth. The value of exports topped $9.99 million, up 32 percent over 2014. The actually utilized foreign investment reached $3 million, up 7.1 percent.

Finance kept steady. The total public fiscal revenue increased 13.6 percent over 2014 to 133.45 million yuan. It ranked first in the growth rate in all of Ningde’s counties.

Resident income grew continuously. Urban per capita disposable income was 6,473 yuan, a 7.3 percent increase from 2014; and the rural per capita disposable income was 3,573 yuan, an 8.4 percent increase from 2014.

Prices of commodities rose marginally. During January to March, the consumer price index rose 1.6 percent over the former year, with commodity prices up 1.0 percent and services up 3.4 percent. The first quarter saw the largest price increase in health care and personal articles – 6.8 percent more than 2014. However, the prices of household equipment and maintenance service, and transportation and communication declined 1.1 percent and 0.8 percent respectively.