Gansu ranks 2nd in national economic growth

gogansu.com | Updated: 2024-10-24

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Aluminum plates and strips from Jiuquan Steel Group Dongxing Aluminum Company [Photo provided to gogansu.com]

On Oct 22, Gansu's economic performance for the first three quarters was released. The province's GDP reached 912.63 billion yuan ($126.1 billion), growing by 6 percent year-on-year, ranking second in China and surpassing the national average for 11 consecutive quarters.

As a major agricultural province, Gansu has accelerated its efforts to strengthen agriculture, focusing on grain production, specialty industries, and investment attraction. The agricultural economy has maintained stable growth.

In key industrial sectors, strong growth in non-ferrous metals, petrochemicals, and coal has provided robust support. Major industrial products have increased, with coal production growing double digits for 12 months, crude oil production exceeding one million tons for five months, and record-high natural gas output. Gold production also increased 1.4 times, and copper and nickel output has grown rapidly.

This year, Gansu's cultural and tourism market has thrived, from Tianshui's spicy hotpot gaining popularity to the Dunhuang Mingsha Mountain starry concert going viral. Tourist numbers and spending rose by 15.6 percent and 25 percent, respectively.

With ongoing policies to boost domestic demand, consumption continues to recover, with investment playing a crucial role and foreign trade remaining strong. As domestic demand grows, market vitality increases, fueling economic momentum.

The Hexi Corridor now showcases Gansu's renewable energy transformation, with ultra-high voltage power lines, wind turbines, and solar panels dotting the landscape, symbolizing the province's dynamic development and sustainable future.

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