Shandong economy witnesses steady growth in Q1-Q3
(chinadaily.com.cn)| Updated : 2021-10-26Print Print
A US cargo ship docks at the Qingdao Port, Shandong province. [Photo by Yu Shaoyue/For China Daily]
Shandong's economy posted steady growth in the first three quarters of this year, local authorities announced at a news conference on Oct 25.
Official statistics show that from January to September, the province's GDP reached 6.04 trillion yuan ($946.48 billion), up 9.9 percent year-on-year based on comparable prices and an average growth of 5.8 percent in the two years.
The added value of its primary industry reached 412.99 billion yuan, up 7.7 percent year-on-year and an average growth of 4.6 percent in two years. The added value of the secondary industry was 2.34 trillion yuan, up 8.9 percent year-on-year and up 5.3 percent on average in the past two years. The added value of the tertiary industry was 3.27 trillion yuan, up 10.9 percent year-on-year and up 6.3 percent on average in the past two years.
During this period, the added value of industrial enterprises above designated size in Shandong increased by 11.6 percent year-on-year, with a two-year average growth of 7.2 percent.
The added value of high-tech manufacturing grew 19.7 percent year-on-year and 13.1 percent on average over the past two years. The figure of new-generation information technology manufacturing grew 28.1 percent year-on-year and 19.6 percent on average over the past two years.
From January to August, the revenue of services above designated size reached 712.96 billion yuan, up 30.1 percent year-on-year and up 12.7 percent on average over the past two years. Its total profit reached 48.47 billion yuan, up 52.3 percent, while operating income margins reached 6.8 percent, the best performance so far this year.
In the first three quarters of this year, the total retail sales of consumer goods reached 2.38 trillion yuan, up 18.6 percent year-on-year and up 6.4 percent on average over the past two years.
Over this period, fixed asset investment in Shandong grew by 8.7 percent year-on-year, with a two-year average growth of 5.6 percent.