Xi’an GDP in the 1st Half of 2019: Up by 7.0%

Xi’an is the largest city in Northwest China with population slightly above 10 million and the capital city of Shaanxi Province.

According to preliminary calculations, in the first half of the year, the city’s total production value reached 414.234 billion yuan, calculated at comparable prices, and increased by 7.0% year-on-year. In terms of industries, the added value of the primary industry was 9.861 billion yuan, up 4.5%; the added value of the secondary industry was 13.21 billion yuan, up 8.6%; the added value of the tertiary industry was 272.258 billion yuan, up 6.1%.

Agricultural

In the first half of 2019, the output of major agricultural products in the city was stable. Vegetable production was 1,454,700 tons, up 1.8% year-on-year; meat production was 25,900 tons, up 0.3%; egg production was 28,100 tons, up 1.8%; milk production was 57,600 tons, up 0.7%; fruit production was 143,800 tons. Growth of 5.6%.

In the first half of 2019, the added value of industrial enterprises above designated size increased by 8.7% year-on-year, down 3.3 percentage points from the first quarter. The added value of equipment manufacturing industry increased by 11.1%, accounting for 61.6% of the above-scale industries, accounting for 2.0 percentage points higher than the first quarter.

Industrial

The total output value of large and medium-sized industrial enterprises increased by 12.6% year-on-year, 2.0 percentage points faster than the total industrial output value above designated size, 6.6 percentage points faster than small industrial enterprises.

In the first half of 2019, the total output value of high-tech industries increased by 17.5%, faster than the total output value of industrial enterprises above designated size by 6.9 percentage points; the total output value of strategic emerging industries increased by 14.1%, faster than the total output value of industrial enterprises above designated size by 3.5 percentage points.

From January to May, the main business income of industrial enterprises above designated size increased by 9.9% year-on-year; the total profit decreased by 11.4%, and the operating profit margin was 5.1%, which was 0.9 percentage points higher than that of January-February.

Construction

In the first half of 2019, the added value of the construction industry in the city was 45.981 billion yuan, a year-on-year increase of 10.1%, an increase of 1.0 percentage point over the first quarter. The construction industry enterprises within the qualifications completed a total output value of 188.257 billion yuan, an increase of 15.5%. The construction industry enterprises within the qualifications signed a contract amount of 887.134 billion yuan, an increase of 29.5%.

Investment

Investment in high-tech industries grew rapidly.In the first half of 2019, the city’s fixed asset investment grew by 2.2% year-on-year, down 9.7 percentage points from the first quarter. Among them, infrastructure investment increased by 17.1%, and private investment increased by 5.3%.

In terms of industries, investment in the primary industry fell by 31.7% year-on-year; investment in the secondary industry increased by 6.4%, of which industrial investment increased by 5.6%; investment in the tertiary industry increased by 2.0%. Among industrial investment, high-tech manufacturing investment increased by 10.1%, faster than the city’s fixed asset investment by 7.9 percentage points.

In the first half of 2019, real estate development investment fell by 1.1% year-on-year. The sales area of ​​commercial housing was 11.5434 million square meters, down 7.9%. Among them, the residential sales area was 9.3312 million square meters, down 10.8%.

Consumption

In the first half of 2019, the city’s total retail sales of consumer goods reached 231.04 billion yuan, a year-on-year increase of 5.9%, an increase of 0.3 percentage points over the first quarter. Among them, the retail sales of consumer goods above designated size was 115.081 billion yuan, a year-on-year increase of 0.4%, an increase of 0.2 percentage points over the first quarter.

According to consumption patterns, catering revenue was 19.016 billion yuan, up 9.7% year-on-year; retail sales of goods were 221.28 billion yuan, up 5.6%.

Among the 22 categories of commodities, the retail sales of 13 categories of goods maintained growth, of which, the Chinese and Western medicines increased by 24.7%, the furniture category increased by 24.5%, and the gold and silver jewelry category increased by 22.5%.

In the first half of 2019, the retail sales of goods above designated size through the public network reached 19.861 billion yuan, an increase of 18.6%, faster than the city’s above-scale retail sales of 18.2 percentage points.

Deposits and Loans 

As of the end of June, the city’s financial institutions’ RMB deposit balance was 2,217.754 billion yuan, a year-on-year increase of 6.3%; compared with the beginning of the year, an increase of 121.941 billion yuan, an increase of 41.203 billion yuan. The balance of RMB loans of financial institutions was 2,131.392 billion yuan, up 14.0%; it was 155.984 billion yuan more than the beginning of the year, a year-on-year increase of 16.24 billion yuan.

Consumer Prices

In the first half of 2019, the city’s consumer price rose by 2.4% year-on-year, 0.2 percentage points higher than the first quarter; in June, it rose by 2.6% year-on-year. In terms of categories, “seven liters and one drop”, food and tobacco prices rose 2.2% year-on-year, clothing rose 2.8%, residential rose 3.4%, household goods and services rose 2.4%, transportation and communications fell 0.8%, education culture and entertainment rose 4.3%, health care rose 1.4%, and other supplies and services rose 1.9%.

In the first half of 2019, the ex-factory price of industrial producers rose by 1.5% year-on-year, 0.2 percentage points higher than the first quarter; in June, it rose by 1.7% year-on-year and 0.2% quarter-on-quarter. The purchase price of industrial producers fell by 0.1% year-on-year, and rose by 0.1% in the first quarter. In June, it fell by 0.5% year-on-year and 0.2% quarter-on-quarter.

Structural Reform 

De-stocking has achieved remarkable results. At the end of June, the area of ​​commercial housing for sale in the city fell by 32.5% year-on-year. Cost reduction continues to advance. From January to May, the cost per 100 yuan of operating income of industrial enterprises above designated size was 87.31 yuan, a decrease of 0.76 yuan from January to February. Investment in the short board sector has grown rapidly. In the first half of the year, investment in short-board sectors such as water conservancy and public facilities management and education increased by 17.7% and 12.3% respectively, faster than the city’s fixed asset investment of 15.5 and 10.1 percentage points. Among the general public budget expenditures, energy conservation and environmental protection expenditures increased by 94.3%, and education expenditures increased by 13.5%.

The economic structure continues to be optimized. In the first half of the year, the non-public economic value added accounted for 53.6% of total GDP, an increase of 0.3 percentage points over the same period of the previous year. Strategic emerging industries and high-tech industries in the above-scale industries maintained rapid growth. The education, culture, sports and entertainment industries, scientific research and technical service industries in the above-scale service industries maintained rapid growth.