BUSINESS In Anhui, GDP up over first three quarters

BUSINESS

In Anhui, GDP up over first three quarters

By Zhu Lixin in Hefei | chinadaily.com.cn

16:28, October 23, 2020

The model of Quantum Experiments at Space Scale developed by Chinese Academy of Science in Anhui is on display at Anhui Innovation Center. (Photo: Xinhua)

GDP in Anhui province grew by 2.5 percent year-on-year to nearly 2.77 trillion yuan ($415 billion) in the first three quarters of the year, its chief statistician said on Wednesday.

The province's GDP increased by just 0.7 percent year-on-year to nearly 1.76 trillion yuan in the first half.

Xiao Zhiying, Anhui's chief statistician, said the latest data show that the province's economy has been steadily recovering from difficulties brought on by the coronavirus pandemic and the severe floods that hit the province during the summer.

The value of imports and exports increased by 10.2 percent year-on-year to about $56.5 billion in the first nine months, 4.7 percentage points above the first six months.

In the first three quarters, foreign direct investment in Anhui grew by 3.6 percent to $14.6 billion.

By contrast, the province's fiscal revenue declined by 3.8 percent to 4.38 billion yuan in the first three quarters, while the loss has narrowed by 3.6 percentage points from the first half of the year.

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