Tianhe district of Guangzhou saw solid economic growth in the first half of the year, with its gross domestic product or GDP reaching 347.96 billion yuan ($48.2 billion), up 3.6 percent year-on-year at constant prices.

The key highlights of the district's economic performance included stable support from its key industries, a steady rise in economic quality, a vibrant consumer market, and rapid growth in fixed asset investment.

Solid H1 performance: A panoramic view of Tianhe district. [Photo/WeChat account: tianhefabu]

During the first half of the year, the value added by strategic emerging industries in the district reached 99.07 billion yuan, representing a 5.7 percent increase. Meanwhile, the value added by core industries in the digital economy reached 77.38 billion yuan, showing an 8.5 percent gain year-on-year.

The district also experienced remarkable growth of 82.1 percent in the establishment of new business enterprises, with the number of newly introduced industrial investment projects doubling compared with that of the previous year.

Total tax revenue generated by the district amounted to 48.17 billion yuan, reflecting a 1.5 percent increase. The total value of foreign trade imports and exports hit 46.1 billion yuan, marking a significant 40.5 percent improvement.

Total retail sales of consumer goods in the district stood at 107.43 billion yuan, showing a 6.2 percent increase.

Fixed asset investment grew by 9.5 percent, with industrial project investment jumping by 20.6 percent, infrastructure investment up by 1.9 percent, and industrial investment surging by 37.9 percent.