Lin-gang's economy surges in Jan-Aug
Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone. [Photo provided to en.lgxc.gov.cn]
Since the start of this year, the Lin-gang Special Area of the China (Shanghai) Pilot Free Trade Zone – located in Shanghai in East China – hasn't stopped accelerating its development.
From January to August, fixed asset investment hit 50 billion yuan ($7.76 billion), a year-on-year increase of 55 percent. That performance represented an increase of 107.9 percent over the same period in 2019, as well as an average increase of 44.2 percent over the periods.
In terms of project types, investment in industrial projects was 25.92 billion yuan, an increase of 51.7 percent on last year, while investment in real estate development projects was 15.61 billion yuan, an increase of 109.3 percent. In investment in social projects was 1.19 billion yuan, a staggering increase of 626.5 percent.
The industrial economy of Lin-gang also maintained a strong growth momentum.
Total industrial output value from January to August reached 158.67 billion yuan, a year-on-year increase of 77.3 percent – and an increase of 133.9 percent over the same period in 2019. That represents an average increase of 52.9 percent over the preceding years.
Breaking the numbers down, industrial enterprises above a designated size – those with annual turnover of 20 million yuan or more – had an output value of 146.43 billion yuan, year-on-year growth of 77.4 percent.
The development of the tertiary industry continued to improve. From January to August, its total operating revenue sustained rapid growth momentum, with a year-on-year increase of 61.3 percent. Of that, the operating revenue of businesses above a designated size was 157.95 billion yuan, accounting for 89.9 percent of the total tertiary industry.
Investment continued to accelerate. As of Sept 10, 117 cutting-edge industrial projects had been signed and implemented, involving total investment of 122.7 billion yuan. The projects focused mainly on the fields of integrated circuits, biomedicines, the digital economy, new energy vehicles and high-end intelligent equipment.
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