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Changsha Service Industry Economic Aggregate Surpasses 500 Bln CNY

(People's Daily Online)    15:52, April 09, 2018

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The Changsha Municipal Bureau of Statistics released data on April 1, 2018. It said that Changsha's service industry economic aggregate reached a new level in 2017, achieving an added value of 515.78 billion CNY, an increase of 10.9% over the previous year.

The growth rate was 0.6 percentage points higher than the provincial average. The industry accounted for nearly 50% of the total GDP. The proportion of its added value was 30.8%, up 0.2% over last year. The service industry has become the main driving force for Changsha’s economic growth.

In 2017, Changsha accelerated industrial restructuring, transformation, innovative development, to promote the modern service industry development. It issued the modern service industry development plan during the “13th Five-Year” Plan period, and further improved the comprehensive assessment methods for the service industry, to improve the industrial advancement.

Changsha's three industrial structures were adjusted from 4.0:48.2:47.8 in 2016 to 3.6:47.4:49.0 in 2017. The added value of the service industry accounted for 49% of the GDP, which was 1.2% higher than the previous year. An economic structure with the service industry as the main body has been achieved.

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Translator: Yu Jiangjiang

Chinese source: 

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