Zhuhai sees stable economic growth in Jan-April period

Zhuhai's economy has shown a positive trend of sound and stable growth in the first four months of 2023, officials of Zhuhai Statistics Bureau announced on May 27. Investments, consumption, and exports are considered the three main factors for stimulating this economic upturn.

The city's total retail sales of consumer goods went up by 6.9 percent to 34.85 billion yuan ($4.9 billion), while import and export volume reached 85.72 billion yuan ($12.13 billion).

Vigorous Zhuhai [File photo by Zhao Zi / Zhuhai Media Group]

The city's fixed-asset investments in the first four months grew by 0.1 percent year-on-year, reversing the 2.5 percent decline in the first quarter. Industrial investment surged by 56.5 percent while that of advanced manufacturing and hi-tech manufacturing expanded by 73.3 percent and 93 percent, respectively.

The added value of industries above designated size increased by 6.3 percent to 49.19 billion yuan ($6.96 billion) in the January-April period with a year-on-year increase of 6.3 percent. The added value of Zhuhai's seven pillar industries went up by 6.7 percent to 39.77 billion yuan ($5.63 billion), accounting for 80.8 percent of the city's total.

Consumer prices rose a modest 1.3 percent, while the domestic and foreign currency deposits in Chinese and foreign-funded financial institutions climbed by 15.4 percent to 1.22 trillion yuan ($173.22 billion) as of the end of April.