Hubei, China sees GDP up 6.7 pct in Q1

The gross domestic product (GDP) of Hubei Province grew by 6.7 percent year on year in the first quarter (Q1) of 2022, reaching 1,080.466 billion yuan, said Hubei Provincial Statistics Bureau and Hubei Provincial Investigation Team of National Statistic Bureau on April 22.

The respective added values of Hubei’s primary, secondary, and tertiary industries were 72.454 billion yuan, 466.997 billion yuan, and 541.015 billion yuan, up 5.8 percent, 7.9 percent, and 5.9 percent.

The province’s investment in fixed assets (excluding farmers) rose 20.0 percent year on year, a double-digit growth in Q1. The total retail sales of consumer goods stood at 515.819 billion yuan, an increase of 7.8 percent year on year. And the exports totaled 87.93 billion yuan, an increase of 26.3 percent during the same period.

The province’s industrial production, especially advanced manufacturing, grew rapidly in Q1. The added value of industries above designated size registered an increase of 9.8 percent year on year, while those of high-tech manufacturing sector surged by 22.7 percent and equipment manufacturing sector increased by 9.9 percent.

Employment was generally stable and residents’ income increased steadily in the province during the same period. 207,900 new jobs were created in cities and towns across the province, completing 29.7 percent of its annual target. The per capita disposable income of all residents in the province reached 9,448 yuan, a year-on-year increase of 7.4 percent.