Petrochemical industry has become the main driving force of GDP in Huizhou

In the first quarter of this year, Huizhou ranked first in the province with a GDP growth rate of 11.7%. According to the latest statistics, the growth of GDP in Huizhou is mainly driven by the two major industries of electronics and petrochemical, and the retail sales of automotive consumer goods also account for a large proportion, while the property market has entered a period of deep adjustment.

In the first quarter of this year, whether it was fixed-asset investment, foreign trade or total retail sales of consumer goods in the city, Huizhou had more than double-digit growth. However, from the structural analysis, the former two are mainly driven by a large number of large projects. To be exact, it is mainly driven by large enterprises in the two major industries of electronics and petrochemicals. Statistics show that in the first quarter, the city’s industrial added value was 24.45 billion yuan, an increase of 16.6%, an increase of 9.9% over the provincial average, an increase of 2% year-on-year, ranking second in the Pearl River Delta. Among them, the electronic industry realized an added value of 7.87 billion yuan, an increase of 26.8%, which was the main driving force for the city's industrial growth. In terms of import and export of foreign trade, in the first quarter, Huizhou’s foreign trade exports were US$10.93 billion, an increase of 38.8%, but the key to import and export was driven by several large companies such as Samsung, with Samsung’s incremental share accounting for 80% of the city’s increase. In terms of consumer pull, retail sales of automotive consumer goods account for a large proportion.

Correspondingly, the local real estate market is sluggish. Taking Huicheng District as an example, the area of ​​commercial housing sold in the first quarter was 537,100 square meters, a year-on-year decrease of 5.4%. The investment in real estate development was 3.454 billion yuan, an increase of 18.3%, an increase of 8.4 percentage points from the same period of last year.

It is in this situation that local real estate is adjusting prices and accelerating pushes. The data shows that in the past three months, the top sales in Huizhou have been low-cost or the largest drop in real estate sales. The average price of real estate in the top eight of the transaction units has reached 45,000 yuan per square meter. Before July last year, the average price in Huizhou was as high as 6,500 yuan per square meter.

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