Wuhan city records steady GDP growth

The city of Wuhan in Central China’s Hebei province recorded sound economic growth during the first three quarters of 2019, with a range of economic indicators showing steady expansion, according to a report in the Changjiang Daily newspaper.

The city’s GDP in the first three quarters of 2019 showed year-on-year growth of 7.8 percent. The increase equaled the provincial average and was 1.6 percentage points higher than the national average.

Analysts said the city’s GDP has maintained a rapid growth rate of more than 7.8 percent for nine consecutive quarters.

Fixed asset investment increased by 10.3 percent during the period. Total retail sales of consumer goods increased by 9.0 percent year-on-year.

The total volume of imports and exports increased by 7.0 percent compared with the same period last year, and the growth rate was 0.8 percentage points higher than that of 2018.

From January to August, the operating income of enterprises in the service sector above a designated scale increased by 18.0 percent, marking the highest growth rate in the past five years for the three quarters.