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Tianjin Leads China in GDP Growth Rate in First Quarter
Tianjin, the leading manufacturing center in north China, reported a 12 percent increase in GDP in the first quarter of this year, 4.1 percentage points higher than the nation's average.
The city led the country in the growth rate of the GDP ¨Cthe value of goods and services produced ¨C during that period.
The city's GDP came to 37.67 billion yuan in the first three months of 2001, according to the Municipal Bureau of Statistics.
Meanwhile, Tianjin¡®s industrial sector maintained a momentum of rapid growth, with the overall economic returns showing a turn for the better. The industrial sector contributed 52 percent to the growth rate of the city's GDP, and spurred its economic growth by 6.4 percentage points.
The value of Tianjin's industrial output amounted to 62.7 billion yuan in the first quarter, up 15 percent from the same period last year.
The investment in fixed assets had a high starting point, with more new projects launched. Investment in fixed assets amounted to 6.73 billion yuan, an increase of 24 percent. A total of 110 new projects were undertaken, 37 more than the same period in 2000.
The consumer goods market has been brisk, with retail sales totaling 20.97 billion yuan in the first three months, an increase of 15 percent. Compared to the same period last year, the increase is 3.7 percentage points higher.
Tianjin's exports amounted to 2.54 billion US dollars in the first quarter, an increase of 30 percent. Contracts worth 1.18 billion US dollars on using foreign funds were signed in the first quarter, an increase of 42 percent.
The per-capita disposable income of urban residents was 2,280 yuan during that period, and cash income of rural residents was 1,618 yuan, up 7.6 percent and 7.7 percent, respectively.
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