Zhanjiang garnered 183.54b yuan over three quarters
Zhanjiang's GDP registered a gain of 183.54 billion yuan ($27.14 billion), a 7.8 percent increase year-on-year for three consecutive quarters, Zhanjiang Daily reported.
The increase happens despite sluggish global economic growth and is expected to rise over eight percent in the fourth quarter.
The rise in GDP is evident in the output of local industry. The total benefits of industrial enterprises with annual revenue above 20 million yuan in the last three quarters attained 51.3 billion yuan, rising by 11 percent.
Zhanjiang is the only city enjoying a double digit growth in Guangdong, with 5.3 percentages higher than the average.
Fixed asset investment in the city totaled 87.17 billion yuan, up 23.5 percent compared with the same period last year, ranking second among 21 counterparts.
Private investment is a black horse for Zhanjiang's economic growth, as it records a total of 53.05 billion yuan, up 32.7 percent, accounting for 60.9 percent of the total fixed asset investment, against the backdrop that the national indicator point in this field has fallen sharply.
Zhanjiang's industry has a great potential to tap into the following quarter and beyond.
In the fourth quarter, several major projects will continue to boost Zhanjiang's industrial development, as the second blast furnace at the Baosteel Zhanjiang Base commences commercial operations and the fourth phase of the papermaker Chenming Group is put into operation.
Meanwhile, some other key enterprises resumed production this year, including Sinopec Group Zhanjiang Dongxing Petroleum and Chemical Company and China Offshore Bitumen Company.
The government will also promote the construction of transportation infrastructure, including the key project of the Zhanjiang International Airport, Shantou-Zhanjiang Expressway, and channels for Zhanjiang Port.