The Municipal Bureau of Statistics has released the economic data of the second quarter of Cixi City. The main economic indicators showed a gradual recovery trend with positivegrowthregistered. According to the preliminary calculation, in the first half of 2020, the GDP of the whole city reached 87.22 billion yuan, with a year-on-year increase of 0.1%, 1.7 percentage points higher than that of the whole country, 0.7 percentage points higher than that of Ningbo, and 11.3 percentage points higher than that of the first quarter. In the first half of 2020, the gross domestic product (GDP) at the municipal level (excluding Ningbo Hangzhou Bay New Area, the same below) was 57.415 billion yuan, a year-on-year decrease of 1.6% and an increase of 7.5% over the first quarter.
Facing the great impact ofNovel Coronavirus by this year, Cixi City's overall efforts to promote epidemic prevention and control and economic and social development have appearing constantly. The economy continues to rise and the main indicators such as industrial production, exports and consumption continue to narrow, and investment and household income are growing positively.
Industrial production has recovered rapidly, the momentum of emerging industries has increased, and the intensity of scientific and technological innovation has not decreased. In the first part of the year, the city's industrial added value reached 27.860 billion yuan, a year-on-year decrease of 4.5%, and the decline rate was 11.3 percentage points lower than that in the first quarter. In terms of production and sales, the output value of above-scaleindustries in the second quarter reversed the negative growth trend in the first quarter and maintained positive growth for three consecutive months. In terms of efficiency, the profitability of Industrial Enterprises above designated size has gradually improved.In the first half of the year, the operating revenue of industries above Designated Size at the municipal level reached 70.698 billion yuan, down 7.7% year-on-year, 19.5% lower than that in the first quarter; the total profits and taxes reached 5.435 billion yuan, a year-on-year decrease of 8.7%, of which the total profit was 3.540 billion yuan, with a year-on-year decrease of 7.2%, and the decrease rate was 37.3 percentage points lower than that of the first quarter. It is worth mentioning that the recovery of emerging industries is obvious. In the first half of the year, the added value of the municipal health industry increased by 3.0%, and the added value of the new material industry increased by 2.5%, up 24.3% and 16.8% respectively compared with the first quarter. Affected by the Novel Coronavirusepidemic, the pharmaceutical manufacturing industry maintained a rapid growth. In the first part of the year, the total output value of the industrial pharmaceutical manufacturing industry increased by 141.6% over the first half of the year, and the growth rate increased by 122.3 percentage points over the same period last year. At the same time, scientific and technological innovation has not been reduced. R & D expenses of above-scale industries at the municipal level increased by 0.4% year-on-year, 7.6 percentage points higher than the growth rate of total profits of industries above designated size. In April, May and June, the output value of new industrial products above Designated Size at the municipal level increased by 12.0%, 12.9% and 15.2% respectively, which were 8.2%, 6.4% and 7.0 percentage points higher than that of the total output value of industries above designated size.
On the back of the consumptionstimulus, the pulling effect of service industry is improved remarkably. In the first half of 2020, the municipal tertiary industry boosted GDP growth by 1.2 percentage points. The financial industry, for-profit service industry, wholesale and retail industry, and real estate industry contributed 0.5, 0.4, 0.3 and 0.3 percentage points of GDP growth respectively. Under the stimulation of various measures to promote consumption, large enterprises above the limit gradually recovered their vitality. The sales volume of wholesale and retail trade at municipal level increased by 2.2% year-on-year, 15.2% higher than that in the first quarter. The added value of wholesale and retail industry was 5.537 billion yuan, with a year-on-year growth of 3.2% and a return of 15.4% over the first quarter. In the second quarter of 2020, driven by more new real estate projects, some of them were pushed up, and some even were sold out in a day. The market of municipal real estate industry was energetic as the sales area of commercial housing increased by 0.7% year on year, and the added value of real estate industry was 4.064 billion yuan, with a year-on-year increase of 4.7%.
Real estate development plays an important role in the positive growth of investment. In the first half of 2020, the investment in municipal fixed assets increased by 5.3% year on year, 1.8% higher than that in Ningbo and 11.3% higher than that in the first quarter. In terms of investment composition, in the first part of the year, municipal real estate development investment accounted for 52.5% of the city-level investment, with the absolute amount increasing by 8.2% year-on-year; the investment in manufacturing industry increased by 14.9%; and the investment in infrastructure decreased by 13.4%. In addition, private investment increased by 5.5% year-on-year, 1.4 percentage points higher than that of Ningbo. Investment growth in high-tech industries has turned positive for the first time since December 2018. In the first half of the year, the investment in municipal high-tech industry increased by 10.7% over the same period last year, mainly due to the rapid growth of investment in high-tech service industry. Among them, the investment in high-tech service industry increased by 72.7 times on a year-on-year basis.
