Jinan's GDP grows 5.5% in Q1

Jinan, the capital of Shandong Province, recorded steady economic growth in the first quarter. According to the city's statistics bureau, the GDP reached 309.13 billion yuan ($42.7 billion) from January to March, a 5.5 percent year-on-year increase at constant prices.

Agricultural production remained stable, with sufficient supply of major products. The total output value of agriculture, forestry, animal husbandry, and fisheries reached 9.13 billion yuan, up 4.3 percent year-on-year.

Industrial production showed strong performance during the period, with the added value of industries above designated size growing 9.3 percent year-on-year. The equipment manufacturing sector performed particularly well, achieving a 29.4 percent increase in added value.

Fixed asset investment rose 1.5 percent year-on-year in the first three months. Total retail sales of consumer goods reached 134.13 billion yuan, up 4.9 percent. The general public budget revenue totaled 34.31 billion yuan, up 2 percent from the same period last year.