Hainan's GDP grows by 6% in Q1

According to the press conference on the economic operation of Hainan province held on April 19, the province's GDP reached 159.39 billion yuan ($24.9 billion) in the first quarter of 2022, a year-on-year increase of 6 percent.

The added value of the province's primary industry was 37.83 billion yuan, a year-on-year increase of 4.5 percent, the added value of its secondary industry was 25.37 billion yuan, a year-on-year increase of 3.4 percent, while the added value of its tertiary industry was 96.2 billion yuan, a year-on-year increase of 7.1 percent.

In the first quarter of the year, the added value of industries above designated size in the province increased by 7.6 percent year-on-year, of which the added value of the high-tech manufacturing industry was up 8.6 percent year-on-year, and that of its equipment manufacturing industry grew 24.9 percent. Emerging business forms showed positive development, while the added value of the province's service industry increased by 7.1 percent year on year.

In this period, the fixed asset investment in Hainan increased by 16.3 percent year-on-year, of which non-real estate development investment increased by 26 percent year-on-year, 23.7 percentage points faster than its real estate development investment.

In the first quarter of the year, the total retail sales of social consumer goods in Hainan were 57.26 billion yuan, a year-on-year increase of 4.8 percent. Among the retail sales of units above designated size, automobiles increased by 2.6 percent, of which new energy vehicles increased by 151.8 percent, driving the total retail sales of consumer goods to increase by 2 percentage points.

The import and export of goods in Hainan maintained rapid growth in this period. The province's total import and export of goods trade was 43.51 billion yuan, a year-on-year increase of 65.4 percent, while its actual utilization of foreign capital was $761 million, a year-on-year increase of 36.9 percent.