Changsha’s GDP in the first three quarters from January to September this year reached 1,015.239 billion yuan, exceeding 1 trillion yuan for the first time, a year-on-year growth of 4.8%, and its growth rate ranked first among capital cities in central China, according to the data released by Changsha Municipal Bureau of Statistics.

It has been the first time for Changsha’s GDP to exceed 1 trillion yuan in the first three quarters.

The real economy represented by advanced manufacturing industry is the foundation of Changsha’s high-quality development.

Since this year, Changsha has deeply implemented the “Plan for the Multiplication of Industrial Enterprises above Designated Size”, and formulated a series of special cultivation and support policies in such fields as new materials, aerospace and advanced computing to promote the rapid rise of industrial chains and clusters.

From January to September, Changsha added 183 industrial enterprises above designated size and 74 national “little giant” enterprises, ranking first in Hunan Province. The number of national intelligent manufacturing pilot demonstration enterprises (projects) ranked first among the capital cities in Central China.

The city’s digital economy totaled nearly 400 billion yuan, ranking 12th among China’s top 100 digital economy cities and becoming a new first-tier city of digital economy.

The new generation of autonomic secure computing system cluster of Changsha was the winner of the third round of national advanced manufacturing industry cluster finals and became the second national advanced manufacturing industry cluster after the construction machinery cluster of Changsha.

Changsha has focused on the transformation and upgrading of industries and vigorously promoted the construction of major projects.

In the first three quarters, the city’s major projects have completed 93.2% of the annual investment plan. 99.676 billion yuan has been invested in the provincial key projects in Changsha, with an investment completion rate of 88.03%. More than 100 billion yuan of investment has been invested in the projects in ten major areas.
 
Efforts have been made to accelerate the improvement of energy security capability, computing service capability, and science and innovation driving capability, and launch 93 relevant key projects, with an annual total investment of 30.762 billion yuan.
 
Changsha has aimed at new development directions such as digital economy, smart economy and green economy. A large number of projects have been started and put into operation, injecting strong impetus into Changsha’s high-quality development.

Only by stabilizing market entities can economic fundamentals keep stable.

This year, Changsha has steadily promoted the implementation of a package of policies and measures to stabilize the economy, introduced “26 Measures to Stabilize Economic Operation”, established a liaison mechanism between cadres and enterprises and provided whole-journey targeted services. Changsha has stepped up the high-quality development of market entities this year. 

At present, the total number of market entities in the city has exceeded 1.52 million with 3 new listed companies. The number of A-share listed companies has reached 81, ranking first among the capital cities in central China.

Changsha has tapped potential and expanded capacity to boost demand.

It has introduced a number of measures to promote the sustainable recovery of the consumer market, held the China City Night-Economy Development Forum, China (Changsha) New Consumer City Summit and more than 600 consumption promotion activities with the theme on four seasons. The consumer market has grown steadily.

“Night Changsha” has become increasingly popular. Meixi Lake Meilanfang Block and Hongxing Block have been selected as one of the second batch of national night culture and tourism consumption clusters. From January to September, the per capita disposable income of Changsha residents increased by 5.7% year on year, the per capita living consumption expenditure rose by 5.4% year on year, and the consumption of eight categories all increased.

Changsha has pooled resources of talent, energy and finance to support high-quality development.

From January to September, over 128 billion yuan of policy funds were granted. The modern smart grid has accelerated its construction, and the project of Jingmen-Changsha UHV has been put into operation successfully.

Despite the fact that the daily power consumption has set a historical record, Changsha still managed to meet the need of power consumption during the peak summer months.