On October 26, the Zhengzhou Municipal Bureau of Statistics released the city's economic performance for the first three quarters. Data shows that in the first three quarters, Zhengzhou's gross domestic product (GDP) reached 1.18621 trillion yuan (RMB, same below), a year-on-year increase of 4.9% at constant prices.
The city's overall economic performance in the first three quarters showed a trend of "steady improvement, new momentum, and optimized structure."
In agriculture, the total output value of agriculture, forestry, animal husbandry, and fishery in Zhengzhou increased by 3.9% year-on-year in the first three quarters. Summer grain output totaled 771,200 tons, an increase of 6,200 tons, and the autumn grain production situation is favorable, with a bumper harvest expected for the full year.
In industry, the added value of industrial enterprises above designated size in Zhengzhou increased by 13.2% year-on-year in the first three quarters, with growth rates 7.9 and 5.7 percentage points higher than the national and provincial levels, respectively. The added value of the electronic information industry, automobile manufacturing industry, and biological and pharmaceutical industry grew rapidly.
The service sector operated steadily. From January to August, the operating revenue of service enterprises above designated size in the city increased by 4.5% year-on-year. Culture and tourism-related industries continued to grow at a high speed, with the operating revenue of the film and television program production industry, cultural and sports entertainment activities and brokerage agency services industry, and literary and artistic creation and performance industry increasing by 96.9%, 19.6%, and 18.5% year-on-year, respectively.
The consumer market continued to recover. In the first three quarters, the total retail sales of consumer goods in Zhengzhou reached 502.89 billion yuan, a year-on-year increase of 2.5%, 1.4 percentage points higher than the national level and on par with the provincial level. Among them, the retail sales of consumer goods by units above designated size increased by 2.1% year-on-year, 3.6 and 1.4 percentage points higher than the national and provincial levels, respectively.
By location of business units, urban consumer goods retail sales reached 454.88 billion yuan, up 2.4% year-on-year, while rural consumer goods retail sales reached 48.01 billion yuan, up 3.5% year-on-year. Cultural and leisure entertainment consumption was robust, with retail sales of cultural and office supplies, sports and entertainment goods, and books, newspapers, and magazines by units above designated size increasing by 72.1%, 25.6%, and 11.5% year-on-year, respectively.
Smart upgrade products remained active, with retail sales of wearable smart devices, photographic equipment, and smartphones by units above designated size increasing by 62.9%, 27.6%, and 21.3% year-on-year, respectively.
Meanwhile, finance and consumer prices operated in an orderly manner. As of the end of September, the balance of domestic and foreign currency deposits and loans of financial institutions in Zhengzhou increased by 6.6% year-on-year. In the first three quarters, the city's consumer price index (CPI) rose by 1.1% year-on-year.
Statistical analysis shows that, overall, positive factors in Zhengzhou's economic operation are accumulating, and high-quality development is moving toward new and better directions. However, it should also be noted that the external environment remains complex and volatile, and the foundation for economic improvement still needs to be consolidated.
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