Henan achieves high-quality development in 2018

Henan province in Central China achieved high-quality development in 2018, according to the government work report released by Chen Run'er, the provincial governor, Jan 16 during the second session of the 13th Henan Provincial People's Congress.

In 2018, the province recorded a GDP of 4.8 trillion yuan ($700 billion), an increase of 7.6 percent year-on-year, 1 percentage point higher than that of the whole country, with its GDP ranking fifth in China and first in Midwest China. Among these, the added value of the primary industry sector was 429 billion yuan, increasing by 3.3 percent year-on-year; the added value of the secondary industry sector was 2.2 trillion yuan, a year-on-year increase of 7.2 percent; and the tertiary industry sector climbed 2.17 trillion yuan, up 9.2 percent year-on-year. The primary, secondary and tertiary industries account for 8.9 percent, 45.9 percent and 45.2 percent of GDP respectively.

The agriculture sector continued to expand, as total grain output in 2018 reached 66.5 billion kilograms, accounting for 33.33 percent of the country's total, a new height in Henan's economic history.

The added value of industries above a designated scale saw an increase of 7.2 percent, 1 percentage point higher than that of the whole country, and the added value of the service industry reached 2.17 trillion yuan, the highest in Central China. In 2018, the total investment in fixed assets (excluding farmers) grew by 8.1 percent, 2.2 percentage points higher than that of the whole country.

Enterprises in the province have performed well over recent years. The profits of industrial enterprises above a designated scale witnessed an increase of 24.5 percent in 2018. The general financial revenue hit 587.58 billion yuan, and the local general public budget revenue reached 376.39 billion yuan, up 10.5 percent, while the province's per capita GDP was 50,152 yuan, an increase of 7.2 percent year-on-year.

Focusing on high-quality development in recent years, the province has deepened supply-side structural reform, and sped up to the construction of a modern economic system. Henan closed 24 coal mines and slashed 8.25 million metric tons of coal capacity and 1.57 million tons of steel production capacity in 2018. New emerging industries developed fast, such as the new energy vehicle industry and service robots recorded an increase of 70.4 percent and 37.8 percent.