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Quality, Efficiency of Economic Performance of Changchun City Improved Steadily in the First Five Months

According to the statistics released by Changchun Municipal Bureau of Statistics, the major economic indicators maintained steady growth, industrial production moved forward at a faster speed, the growth momentum of leading and benefit indicators turned out to be competitive, economic performance continued improving, interior structure got optimized constantly and the compatibility and stability of economic development become increasingly strong though the investment on fixed assets slowed down and consumption demands reduced in the period from January to May this year.

As one of the big investment projects of Changchun City, FAW-VW Audi Q Plant is said to be able to bring about approximately RMB160 billion for output value and RMB30 billion for tax revenue respectively every year, which is of great significance to the economic development and industrial transformation of Changchun City and even Jilin Province. The picture of Audi Q Plant is as follows:

The main achievements are in the following five aspects:

Industrial production continued speeding up and key industries moved forward smoothly. From January to May, the added value of industries above designated size increased 6.9% year on year, and the growth was 0.2 percentage point higher than that of January-April period, or 7.4 percentage points higher than the average of the province, ranking the first on a provincial scale. Among all economic types the added value of light industry increased 10.7%, the added value of heavy industry increased 6.4% and that of private industry increased 6.9%.

Fixed-asset investment slowed down and investment structure continued optimizing. From January to May, the investment on fixed assets increased 0.2%, a drop of 2.8 percentage points from January-April period, but 14.1 percentage points higher than the average of the province. Industrial investment decreased 11%, while the investment in services increased 3.3%. From January to May, the number the projects invested with RMB50 million or above each reached 692, the number of the projects invested with RMB100 billion or above each reached 613, the number of the projects invested with RMB1 billion or above each reached 202, and that of the projects invested with RMB10 billion or above each amounted to five. The investment in hi-tech manufacturing increased 6.5%, or 6.3 percentage points higher than the growth of all investments. The size of private investment continued expanding, accounting for 51.2% of the total investments or 1.3 percentage points higher than January-April period. The investment in real estate development amounted to RMB16.99 billion, up 57%.

Market sales dropped slightly and external demands increased constantly. From January to May, the retail sales amounted to RMB49.76 billion, up 4.1% year on year, a drop of 0.2 percentage point from January-April period, or 7.4 percentage points higher than the average of the province. The demands of import and export markets increased rapidly. From January to May, the imports and exports totaled RMB44.77 billion, a surge of 10.3%, a year-on-year increase of 11.2 percentage points, or a surge of 3.3 percentage points from January-April period. Among the total, imports contributed RMB38.97 billion, up 9.6%, and exports contributed RMB5.79 billion, up 15.1%.

Leading indicators served as powerful support and the quality and efficiency of economic performance continued optimizing. The use of industrial electricity matched well with industrial production indicators. From January to May, the electricity consumption of the whole society amounted to 10.2 billion KWh, up 12.4%. The economic benefits of enterprises continued improving. In the period from January to April, the profits of industries above designated size increased 8.3% and profits and taxes increased 14.8%. The amount of financial expenses dropped 40.3%. The loss of unprofitable enterprises decreased 15.7%, while the amount of profits of profitable enterprises increased 6.6%. A steady increase was made in financial revenue. From January to May, the amount of all-inclusive revenues amounted to RMB56.59 billion, up 11.3%. The amount of financial revenue at local government level reached RMB20 billion, a surge of 6.9%, a 0.1 percentage point drop from last month’s record. The tax revenue increased 21.7% to RMB16.32 billion. The financial expenses decreased 16.2% to RMB29.93 billion.

Supply-side reform moved forward and modern services developed at a faster speed. From January to April, the cost of revenue per RMB100 of major business for industrial enterprises above designated size was RMB0.8 2, a level which was similar as that of last year’s same period. From January to May, the sales area of real estate increased 15% and the sales volume increased 54.8% accordingly. Modern services developed at a faster speed. New industries and new business types congregated constantly. From January to April, the revenue of key services above designated size increased 13.7%, a drop of 4.1 percentage points from the growth rate of the first quarter. Internet and corresponding services increased 26.2%. Commercial service increased 24%, and broadcast, TV, film and film and TV recording increased 13.1%. The development of finance remained steady. From January to May, the loans and deposits of all financial institutions in Changchun City increased 4.7%. The deposit balance increased 2.1% and loan balance increased 7.5%.