Jiangbei coordinated area sees rapid economic development

The Jiangbei Coordinated Development Area in Harbin [Photo/Harbin Daily]

The economy of the Jiangbei Coordinated Development Area in Harbin saw significant growth in the first quarter of this year, with its GDP reaching 1.13 billion yuan ($167.8 million), representing a year-on-year growth of 10.6 percent, 4.5 percentage points higher than the city's overall growth rate, according to the Harbin bureau of statistics.

Meanwhile, the area's general public budget revenue was 710 million yuan, representing a year-on-year increase of 17.9 percent, 9.5 percentage points higher than Heilongjiang's overall growth rate and 9.2 percentage points higher than Harbin's overall growth rate. Its tax revenue reached 700 million yuan, accounting for 98.6 percent of its general public budget revenue.

The Jiangbei Coordinated Development Area is a new area established in July 2018. It is comprised of six residential communities, one town in the Harbin Limin Economic and Technological Development Zone, and the Songbei area of Harbin New Zone.

The area is currently experiencing rapid growth due to the improvement of its business environment and the upgrading of its industrial structures.

In the first quarter, structural reforms of the area's supply side continued moving forward. The ration of primary industry to secondary industry to tertiary industry changed from 0.7:50.5:48.8 in the previous year to 0.3:50.6:49.1 this year.

Industries above a designated size grew at a rapid pace, with their added value increasing by 11.7 percent year-on-year. The growth rate of the area's three pillar industries—medicine, food, and equipment manufacturing—increased by 11.5 percent year-on-year. The added value of high-tech industries above a designated size grew by 16.6 percent year-on-year.

In addition, the operating income of the strategic emerging service industry increased by 23 percent, making the high-end service industry a new driving force for the area's economy, said Liu Lixin, director of the local statistics bureau.

This year, 60 key industrial projects will be introduced in the area. Among them, 10 have received more than 10 billion yuan in investment. Also, there are now 28 strategic emerging industrial projects in the area, accounting for 47 percent of the total.