Analysis for the economic trend of Chenzhou city in first quarter

It was learned from the press conference of Chenzhou city’s economy in first quarter that a sound start with steady progress of economic condition was achieved in Chenzhou city. The specific feature was with slowing growth but upgrading quality.

Compared with 2012, the economic increase rate slowed in the first quarter by 10.5%. The key reasons caused for this situation were as follow: first, the huge downward pressure for macro-economy. In the first quarter, the world’s economy was still under deep adjustment with slow recovery speed, while China domestic economy was still with the excess production capacity and weak demands. Furthermore, the new term of Chinese government leaders paid much more attention on the quality and efficiency upgrading of economy by releasing some favorable macro-control measures. Concerned for Chenzhou city’s condition, the agricultural production and fixed assets investment were suffered from the extreme weather, industrial and agricultural production were affected by the decreasing price of live pigs and industrial leading products, and catering market was influenced by H7N9, etc..

Though under such high pressure, a sound increasing trend was still achieved in Chenzhou city’s economy by handling different effective measures. Such as, three-year greening project for both urban and rural areas, three-year plan of industrial transformation, upgraded undertaking industrial transfer, enhanced key projects construction investment, etc. were carried out in Chenzhou city which greatly helped to fulfill the target set in the beginning of the new year, ranking top place in Hunan province. Compared with 2012, Chenzhou city’s GDP was 2.2% less, but it was still higher than national and Hunan provincial increase rate by 2.8% and 0.4% separately, ranking the second place of Hunan province, first place of south Hunan province and first place of the six cities adjacent to Hunan, Guangdong and Jiangxi province.

Despite the slowdown of economic increase, the economic structural adjustment, transformation and upgrading were still effective which helped to enhance the quality and efficiency of Chenzhou city’s economy. Such as industrial electricity consumption, industrial added-value tax, bank credit, rotation volume of goods transport of highway and other indexes concerned for the economic development increase rate were with slowing growth, but were still up gradually. Both the general financial revenue and added value of the tertiary industry took higher percentage of GDP by 1.62% and 0.6% respectively. Power consumption for ten-thousand scaled industry was decreased by 16.9%. All those data showed that Chenzhou city was in sound condition on economic improvement.