Xiangzhou District, Zhuhai

Xiangzhou District in Zhuhai, Guangdong Province recorded healthy overall economic growth with regional gross domestic product (GDP) climbing 8 percent year-on-year to 25.5 billion yuan ($4.0 billion) in the first quarter.

Other economic data were released during a conference held on May 7 to analyze development trends for policy makers.

According to the meeting, Xiangzhou's major economic indicators are well beyond expectations in the first three months. Value-added growth for industrial enterprises above designated size saw a steady rise of 8.7 percent year-on-year with general budget revenue experiencing a rapid growth of 15.4 percent.

A conference is held in Xiangzhou District on May 7 to analyze development trends for policy makers. [Photo courtesy WeChat Account (ID:zhxiangzhou)]

Thanks to the implementation of the innovation-driven strategy, Xiangzhou has more growth engines and a reinforced development momentum. The added values of high-tech, up 8.4 percent, and advanced manufacturing, up 12.9 percent, account for 25.4 percent and 56 percent respectively in value-added growth for industrial enterprises above designated size. Profitable service industries, especially high-end services such as the Internet and its applications and software and information technology, all achieved sufficient development in the first quarter.

Besides, the economic structure has also been optimized. More growth has occurred in restructuring of industry, investment, and public consumption, contributing to economic expansion and transformation.