Tianhe's GDP exceeds 314b yuan in H1
The regional GDP of Tianhe district in Guangzhou saw a year-on-year growth of 5.2 percent in the first half of 2023, and now sits at 314.73 billion yuan ($43.81 billion).
The added value of Tianhe's primary industry was 140 million yuan, up 26.1 percent year-on-year, while that of its secondary industry was 20.75 billion yuan, increasing by 3.2 percent. The added value of the district's tertiary industry was 293.84 billion yuan, up 5.3 percent.
Vibrant Tianhe at night. [Photo/WeChat account: tianhefabu]
From January to June, the district's modern service sector grew by 5.2 percent, accounting for 74.5 percent of its GDP.
The operating income of the district's software enterprises above designated size increased by 4.3 percent. Additionally, enterprises above designated size in the scientific research and technical services sector saw an operating income increase of 16.2 percent.
An enterprise above the designated size refers to one with an annual revenue of at least 20 million yuan.
The total retail sales of consumer goods in the district reached 108.54 billion yuan in the first six months of this year, showing an increase of 6.8 percent year-on-year.
In the first half of 2023, Tianhe completed a total investment of 19.05 billion yuan through its 92 city-level projects, accounting for 82.1 percent of its annual investment plan. This is 32.1 percentage points ahead of schedule.
Construction has started on 15 key projects throughout the district, such as the headquarters of Kugou Music. This drove the district to complete a fixed-asset investment of 30.56 billion yuan, an increase of 15.9 percent.
There were 53,000 newly established enterprises in Tianhe from January to June, indicating an increase of 46.2 percent, and making up 28.9 percent of Guangzhou's total.
The district also oversaw the registration or implementation of 86 new projects, which have a total contracted investment of 36.63 billion yuan. They include five projects by Fortune Global 500 or Fortune China 500 companies, such as the Guangdong branches of HSBC Insurance and AHCOF Futures.