Investment, retail sales push Zhuhai’s growth

Fixed-asset investment and retail sales drove Zhuhai’s economy in April, according to the latest statistics. It would appear that Hengqin’s construction boom is entering a new gear, while tourism is helping the city’s offshore islands.

From January to April, Zhuhai completed projects worth RMB54.931 billion yuan, up 10.5% YoY and 4. 8 percentage points higher than that of Q1. Among them, construction investment (excluding real estate) was RMB31.302 billion, up 13.3% YoY and higher than the provincial average of 3.7 percentage points. Service industries were also no slouch, completing investment projects worth more than RMB47 billion, an increase of 13.1%.

In the first four months of this year, the consumer market in Zhuhai continued to pick up. The city’s total retail sales hit RMB40.137 billion yuan, up 4.4% YoY, and the growth rate was 0.4 percentage points higher than that in January-March. The catering industry was notable for its 10.7% YoY growth.

Foreign trade fell 6.1% YoY to RMB94.241 billion yuan, but the decline was narrowed by 5.3 percentage points from January to March.

Foreign investment in Zhuhai from January to April rose 7.3% YoY to US$1.12 billion. Most of this came into Hengqin, where an international tourism hub is being built. However, it was in the city’s offshore islands, under the Wanshan district, where tourism gew fastest in the fiest four months, generating income for the industry rhat was up 14% YoY.