Foshan saw 10.9% increase in industrial investment so far in 2022
Foshan China 2022-05-27 17:08

According to data released on the website of the Municipal Bureau of Statistics on the 25th, Foshan has secured steady growth in all major economic indicators. From January to April, Foshan has seen industrial added value of automobile manufacturing, industrial investment, and import and export increase by double digits. 


In April, due to the ongoing pandemic and high prices of bulk commodities, Foshan faces a challenge of an economic downturn. In correspondence, all levels of the society have united together to cushion against the impact.  


Headquarter of Midea, a leading local tech powerhouse 


From January to April, Foshan has topped 181.443 billion yuan in industrial added value above designated size, which accounts for a rise of 4.1%. In the sectors of automobile manufacturing and equipment manufacturing, there has been a jaw-dropping increase of 18.3% and 13% respectively. Growth momentum has remained strong in many other industries, including advanced manufacturing, high-tech manufacturing and equipment manufacturing, as increased by 5.9%, 7.9% and 6.7% respectively. 


OCT Harbor Plus, a popular holiday resort in Shunde 


As for fixed asset investment, Foshan has registered an increase of 10.4%, which marked a 3.8 percentage points jump over the January-March period. Specifically, project investment saw an increase of 17%, accounting for 44.6% of all fixed asset investment, 2.5 percentage points up from the same period last year. Other major contributors include real estate investment, industrial investment and high-tech manufacturing investment, as increased by 5.6%, 10.9% and 12.9% respectively. 


From January to April, Foshan also captured a thriving consumption market, as retail sales of consumer goods reached 122.324 billion yuan, which marks an increase of 0.9%. In terms of commodity, wearable smart devices, smart household appliances and audio-visual equipment, new energy vehicles, and smart phones are the most popular commodities in Foshan, increased by 56.9%, 227.0%, 894.6%, and 51.2%, respectively. 


When it comes to foreign trade import and export, Foshan has accumulated a total value of 241.43 billion yuan, with a year-on-year increase of 6.3%. 


The time around, Foshan has gathered 22.444 billion yuan in general budget revenue, and 31.078 billion yuan in general public budget expenditure, 3.87% and 4.92% down from last year.   


Up next, Foshan will work to seek further economic growth while maintaining stability. Other than that, the city will continue to keep the pandemic under control and sustainable growth in all aspects.  


Author | Jersey 

Revisor | Eleanor 

Source | Foshan Daily