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Guangxi service industry's added value reaches 582.5b yuan

(en.gxzf.gov.cn)

Updated: 2018-11-13

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All departments at all levels in Guangxi Zhuang autonomous region have solidly promoted the development of the service industry to ensure that it maintains a stable and relatively fast development trend.

In the first three quarters, the added value of the service industry in Guangxi reached 582.5 billion yuan ($83.89 billion), a year-on-year increase of 9.6 percent, 0.8 percentage points higher than the same period of last year and 1.9 percentage points higher than the national average, with the growth rate now ranked fourth in the country, a record high in five years.

The added value of the service industry accounts for more than 45 percent of GDP, and contributes 60 percent to the economic growth of the whole region.

In the first three quarters, the postal and telecommunications industry continued to grow, and the total number of postal and telecommunications services increased by 44.9 percent and 209.5 percent respectively, both ranking the first in the country in terms of growth rate.

Other for-profit service industries maintained rapid growth and the income of other for-profit service industries above designated size increased by 24.2 percent. The growth rate ranked first in the country for 13 consecutive months.

The real estate industry continued to grow substantially, and the sales of commercial buildings in the region increased by 30 percent, ranking the first in the country in terms of growth rate.

The financial industry growth continued to stabilize as the region's cash deposits, loan balances and premium income increased by 7 percent, 14.2 percent and 12.6 percent respectively. The growth rate ranks at the forefront of the country.