The 4th Session of the 14th Liuzhou Municipal People's Congress begins at the Wenchang Convention Center on Jan 15. [Photo/Liuzhou Daily]

Liuzhou, the second largest city in Guangxi Zhuang autonomous region, has seen its GDP increase by 7 percent to exceed 300 billion yuan ($44 billion) in 2018, according to the 4th Session of the 14th Liuzhou Municipal People's Congress.

The conference, chaired by Party Secretary Zheng Junkang, began at the Wenchang Convention Center on Jan 15. Mayor Wu Wei delivered the government work report on behalf of the Liuzhou municipal people's government.

Wu Wei, mayor of Liuzhou, delivers the government work report at the 4th Session of the 14th Liuzhou Municipal People's Congress. [Photo/Liuzhou Daily]

A slew of upbeat data in the report confirmed that Liuzhou is moving towards an economy driven by consumer spending, innovation and services, and its living standards are improving.

Last year, the added value of Liuzhou's industries above a designated size witnessed a slight increase of 3.6 percent to 140.95 billion yuan, whereas fixed-asset investment recorded a whopping year-on-year increase of 15 percent.

Due to accelerated industrial transformation and upgrading, the ratio of primary, secondary and tertiary industries became 6.5:52.9:40.6 percent of total GDP in 2018. 

Additionally, local fiscal revenue rose by 8 percent to 43.62 billion yuan, and the total value of retail sales of consumer goods amounted to 127.12 billion yuan, a hike of 10 percent.

The per capita disposable income of urban residents increased by 6.5 percent to 34,784 yuan, while that of rural residents surged by 11 percent to 13,488 yuan. The income gap between urban and rural residents is narrowing.

The robust economic growth also supported job market growth and poverty alleviation. The local registered urban employment rate stayed below 3 percent in 2018 and 99,897 people were lifted out of poverty.

In 2019, Liuzhou is aiming for a 7 percent increase in GDP, including a 5.5 percent increase in the added value of industries above a designated size, a 13 percent increase in fixed-asset investment, a 6.5 percent increase in fiscal revenue and a 10 percent increase in total retail sales of consumer goods. The per capita disposable incomes of urban and rural residents are expected to grow by 7 percent and 10.5 percent, respectively.