FUZHOU – The gross domestic product (GDP) of East China’s Fujian province grew by 8 percent in 2019 to reach 4 trillion yuan ($478 billion), according to provincial governor Tang Dengjie.
The value-added output of strategic emerging industries in the province reached 540 billion yuan last year, up 25 percent, Tang said in his government work report delivered Saturday at the annual session of the provincial people’s congress.
As one of China’s manufacturing powerhouses, Fujian has stepped up its efforts in innovative and high-quality development, with 4,500 companies listed as high-tech enterprises, the governor said.
Investment in the manufacturing sector increased 15.7 percent in 2019, and newly-introduced tax and fee cuts within the year amounted to over 60 billion yuan.
Fujian’s foreign trade volume rose 5.6 percent year-on-year in 2019, with its exports up 7.2 percent.
The province set its 2020 GDP growth target at 7-7.5 percent.