Nanming district economy performs well in first six months

The economy of the Nanming district of Guiyang – capital city of Southwest China's Guizhou province – performed well in the first half of the year.

Statistics from the district's statistics bureau indicated that in the first six months, the district posted GDP of 44.61 billion yuan ($6.60 billion), representing a year-on-year increase of 4.0 percent.

In terms of its industrial structure, the proportion of the district's primary, secondary and tertiary industries was 0.1:36.0:63.9.

The Nanming district economy during the period was marked by four main developments:

Industrial growth expands, with certain industries shining

Nanming was home to 20 industries above a designated size in the period. Of these, the computers, communications and electronics equipment manufacturing sectors and the electrical machinery and equipment manufacturing sectors – as well as the wine, beverage and refined tea manufacturing industries – had the fastest cumulative growth in the value of industrial output. They achieved growth, respectively, of 1,226.8 percent, 533.8 percent and 236.4 percent during the half.

Industrial investment powers ahead, proportion of key projects up

In the first half of the year, fixed asset investment in Nanming district increased by 22.4 percent year-on-year.

Some 3.29 billion yuan of industrial investment was completed, a year-on-year increase of 135.3 percent.

Meanwhile, a total of 59 key projects completed investment of 15.02 billion yuan in the first six months, up 13.4 percent on last year and accounting for 62.3 percent of total investment.

Construction industry resumes, growth rate recovers

With the effective control of the novel coronavirus epidemic and the normalization of local virus prevention and control measures, suspended construction enterprises in Nanming district returned to work and accelerated production.

The total output value of 122 construction enterprises in Nanming in H1 increased by 11.3 percent year-on-year, an increase of 8.7 percentage points on the first quarter.

Halving of vehicle purchase tax boosts auto sales 

In the wake of effective stimulation policies – like the halving of the purchase tax on passenger cars – auto sales in June surged 57.4 percent year-on-year in the district and the growth rate increased by 31.9 percentage points compared with the previous month.

In the first half of the year, auto sales in Nanming increased by 28.3 percent year-on-year, an increase of 8.3 percentage points from the January to May period.