Jinan maintains steady economic growth in Jan-May period

According to data released by the Jinan Municipal Bureau of Statistics on June 26, the city's economy maintained overall stability in the first five months of this year.

From January to May, the added value of industrial enterprises above designated size in the city increased by 4.1 percent year-on-year. The combined added value of six key industries grew by 2.3 percent, contributing 1.1 percentage points to the growth of industrial enterprises above designated size.

The computer communication, and other electronic equipment manufacturing industry saw a significant increase in added value, rising by 33.8 percent and maintaining rapid growth.

During the same period, fixed asset investment increased by 1.9 percent year-on-year. Investment in infrastructure grew by 11.4 percent, real estate development investment increased by 1.3 percent, and investment in high-tech industries grew by 1 percent.

Retail sales of consumer goods from enterprises above designated size totaled 77 billion yuan ($10.59 billion) from January to May. Urban retail sales reached 76.36 billion yuan, while rural retail sales amounted to 640 million yuan. Catering revenue reached 4.73 billion yuan, while retail sales of goods totaled 72.27 billion yuan.

Categories in retail sales, such as communication equipment, new energy vehicles, and jewelry and precious metals showed notable growth rates of 30.3 percent, 20.8 percent, and 1.2 percent, respectively.

General public budget revenue reached 51.64 billion yuan from January to May, up 5.2 percent year-on-year, while general public budget expenditure amounted to 51.05 billion yuan, a decrease of 1.6 percent.

Total imports and exports reached 82.45 billion yuan from January to May, up 0.6 percent year-on-year. Specifically, exports totaled 57.29 billion yuan, an increase of 11.2 percent, while imports totaled 25.16 billion yuan. General trade remained dominant, with total imports and exports under this category reaching 75.59 billion yuan, an increase of 6.4 percent and accounting for 91.7 percent of the total.

The consumer price index (CPI) for residents in Jinan rose by 0.3 percent cumulatively in the first five months of this year, with an increase of 0.5 percent in May alone.