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WEDZ reports 5.7% in GDP growth over 3 quarters

en.whkfq.gov.cn | Updated: 2023-11-02

The Wuhan Economic & Technological Development Zone (WEDZ) achieved a GDP of 150.3 billion yuan ($20.94 billion) in the first three quarters of this year, representing a year-on-year growth of 5.7 percent, up 1.2 percentage points from a year earlier and the highest among all districts in Wuhan.

During this period, the agricultural sector in WEDZ produced a total output value of 2.18 billion yuan. The production of main agricultural products continued to grow steadily, with a summer grain output of 2,500 metric tons, vegetable output of 213,700 tons, and aquatic product output of 19,800 tons.

The added value of industries above a designated size in the zone edged up by 3.6 percent year-on-year, reversing the negative impact caused by the decline of the automobile industry.

The added value of the service industry grew at a rate of 7.0 percent from January to September. Specifically, that of the scientific research and technology service industry grew by 32.2 percent.

The growth rate in total retail sales of social consumer goods in WEDZ came in at 14.3 percent, with retail sales of automobiles surging by 114.8 percent and those of new energy vehicles soaring by an impressive 183.2 percent.

Fixed asset investment in the zone was up 4.6 percent over the nine months, exceeding the city's average growth rate by 3.4 percentage points.

WEDZ attracted over 180 billion yuan in investment for industrial projects, surpassing the annual target ahead of schedule and including eight industrial projects with investments of over 10 billion yuan and 11 industrial projects with investments of over 5 billion yuan.

The per capita disposable income of urban residents in WEDZ stood at 42,809 yuan, up 5.7 percent, while that of rural residents was 26,673 yuan, up 7.9 percent, further narrowing the income gap between urban and rural residents.