Jinan's GDP grows 5.3% YoY in Q1

Jinan's GDP reached 284.85 billion yuan ($39.48 billion) in the first quarter of this year, a year-on-year growth of 5.3 percent, according to the statistics bureau on April 28.

The added values of the primary, secondary, and tertiary industries were 4.35 billion yuan, 85.89 billion yuan, and 194.61 billion yuan, respectively, up 2.5 percent, 5.6 percent, and 5.2 percent year-on-year.

During the same period, the added value of industries above designated size grew by 4.5 percent year-on-year.

Specifically, the output of new energy vehicles increased by 147.4 percent during the same period.

The equipment manufacturing industry performed well in the first quarter, achieving an added value growth of 6.7 percent and driving industrial growth by 2.6 percentage points.

Fixed asset investment increased by 4 percent year-on-year in the first quarter, while the total retail sales of consumer goods grew 2.8 percent year-on-year to 116.92 billion yuan.

In the same period, the total value of Jinan's imports and exports reached 47.1 billion yuan, a year-on-year growth of 5.3 percent.