Hainan's GDP growth rate ranks 2nd in China in 2021

Updated: Jan 21, 2022 Print
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According to the press conference on Hainan's economic operation in 2021 held on Jan 19, the province's GDP was 647.52 billion yuan ($102.07 billion) in 2021, a year-on-year increase of 11.2 percent. The growth rate ranked first in China, while the average growth rate in the past two years was 7.3 percent, ranking first in the country.

Liu Zigeng, director of the Hainan Provincial Bureau of Statistics, said that 2021 was a critical year for the construction of the Hainan Free Trade Port. The policy dividends from the FTP have been initially released. The province's economic operation was stabilized and accelerated, while its growth rate of major economic indicators ranks among the best in the country.

The added value of Hainan's primary industry was 125.4 billion yuan, a year-on-year increase of 3.9 percent, the added value of its secondary industry was 123.88 billion yuan, a year-on-year increase of 6 percent, while the added value of its tertiary industry was 398.2 billion yuan, a year-on-year increase of 15.3 percent, 4.1 percentage points higher than the GDP's growth rate, and its contribution rate to economic growth was 82.5 percent.

In 2021, the added value of industries above designated size in Hainan increased by 10.3 percent year-on-year. The added value of its high-tech manufacturing increased by 0.4 percent year on year, while the added value of its equipment manufacturing industry increased by 45.1 percent.

Last year, Hainan's fixed-asset investment increased by 10.2 percent year–on-year, ranking seventh in the country. Investment in its non-real estate development increased by 14.9 percent, 12.1 percentage points higher than that in its real estate development investment.

In 2021, the province's total retail sales of consumer goods were 249.76 billion yuan, a year-on-year increase of 26.5 percent, ranking first in the country in terms of growth rate. The province's retail sales of commodities was 221.27 billion yuan, a year-on-year increase of 24.9 percent.

Last year, Hainan achieved tourism revenue of 138.43 billion yuan, up 58.6 percent year-on-year. The total number of tourists received in the province was 81 million, a year-on-year increase of 25.5 percent and achieving a recovery to 97.5 percent of the number of tourists it received in 2019.

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