Xiangzhou District, Zhuhai

Xiangzhou District had a healthy economic performance in first three quarters of this year, recording a regional gross domestic product (GDP) of 84.6 billion yuan ($12.74 billion), a year-on-year increase of 8.5 percent, it was announced at a government meeting held on Nov 2.

However, the devastating typhoons in August meant that several enterprises suffered huge losses. The district government took timely measures to help recover production in areas damaged by the typhoons, and put local economic operation back on track.

Xiangzhou District government organizes a meeting to sum up local economic performance in the first three quarters on Nov 2.

Xiangzhou District recorded a gross output value of industrial enterprises above designated size (those with an annual revenue above 20 million yuan) of 121.64 billion yuan, up 11.8 percent compared to the same period last year. 

And its industrial added value above designated size saw a year-on-year increase of 11.9 percent, amounting to 31.85 billion yuan, accounting for 49.5 percent of local GDP. 

In the first nine months, fixed asset investment and total retail sales for consumer goods also registered two-digit growth, increasing respectively by 29.1 percent to 29.91 billion yuan and 11.5 percent to 64.95 billion yuan.

Workers tidy up a workshop hit by Typhoon Hato, in Xiangzhou District, Zhuhai. [Photos courtesy WeChat account: zhxiangzhou]

Automobile products contributed a major part to the growth in sales of consumer goods, increasing by 19 percent, while other categories, food, clothes, shoes and daily necessities also experiencing healthy growth. 

In foreign trade, Xiangzhou reaped import and export trade value of 78.89 billion yuan, and utilized foreign capital of $538 million, accounting for 78.4 percent and 78 percent of the projected annual volume.  

It is expected that the steady growth will provide a boost to the district’s economic performance in fourth quarter.