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2017 Wuhan GDP growth expected to reach 8 pct

Source: hubei.gov.cn 01/12/2018 04:01:40

The second session of the 14th Wuhan Municipal People's Congress was opened on January 10, 2018. Wan Yong, Mayor of Wuhan, delivered report on the work of the government.

According to this report, in 2017, Wuhan’s GDP is expected to achieve 1.34 trillion yuan, an increase of 8 percent. Investment in fixed assets, retail sales of everyday products and local government budgetary revenue are expected to reach 780 billion, 600 billion and 140.29 billion yuan, respectively, growing by around 11 percent, 10 percent and 11.2 percent .

In 2017, Wuhan attracted investment of 2.58 trillion yuan, hitting a new record. The foreign capital actually utilized 9.65 billion U.S.dollars, and 584 projects were started .

In 2017, Wuhan's three strategic emerging industries - IT, health and life, and intelligent manufacturing - all surged by more than 17 percent in terms of the output value while which of the high-tech industry jumped by 13 percent.

In 2018, Wuhan will strive to reach a local GDP growth of 7.8 percent, local government budgetary revenue growth of 8 percent, and an increase of 15 percent for total retail sales of social consumer goods, the report said. (hubei.gov.cn)