Foshan saw positive economic growth in the first half (H1) of 2022, growing 2.8% year-on-year to 574.779 billion yuan, which is above national and provincial level.

Foshans economic performance remained stable in the first half of the year, with its major economic indicators achieving positive growth. Among them, the added value of industry above designated level increased by 3.1% year on year, fixed asset investment increased by 1.7%, total retail sales of consumer goods increased by 1.1%, imports and exports increased by 12.6%.

"It is not easy for Foshan to achieve such achievements in the first half of the year, which provided strong support to Guangdongs positive economic growth." Lin Jiang, professor of economics at Lingnan College of Sun Yat-sen University and deputy director of the Hong Kong, Macao and Pearl River Delta Research Center, said that a series of previous measures to stabilize growth and promote transformation have played an important role in the economic growth.

Author | Eleanor