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Fujian GDP up by 10.2%

By Tong Hao (chinadaily.com.cn)
Updated: 2009-10-22 13:59

Fujian's GDP during the first three quarters increased by 10.2 percent year-on-year to 758.7 billion yuan, driven by investment in fixed assets and strong domestic demand, according to the provincial Statistics Bureau.

Related readings:  Big investment to come out of Fujian's 5th STE  Fujian government investment spurs economic recovery  Fujian delegation wraps up Taiwan visit

During the first nine months, investment in fixed assets of the province increased by 17.9 percent to 424.86 billion yuan while total retail sales of consumer goods rose by 14.9 percent to 319.45 billion yuan. Fixed asset investment and consumer goods sales are the two main engines for the GDP growth.

Sales of autos and real estate surged by 27.6 percent and 69.3 percent respectively during the first three quarters.

However, investment in the real estate industry decreased by 9.6 percent year-on-year to 73.8 billion yuan. In addition, Fujian exports dropped 11.4 percent to $38.26 billion and imports were down by 14.2 percent to $18.98 billion from January to September.