(Yicai Global) Jan. 16 -- Henan province in Central China aims to reach economic growth of 7 percent to 7.5 percent this year, while fine-tuning its economic productivity.
Henan aims to increase the productivity of its labor 7 percent, raise public budget revenue by 7 percent, and curb consumer price index growth at 3 percent to optimize its economic structure, Governor Chen Run'er said in a regional government work report today.
The proportion of permanent urban residents in Henan's population is expected to rise at least 1.5 percentage point. Imports and exports should maintain steady growth and the province should climb 2 ranks higher in terms of its business environment.
The per capita disposable income of residents will increase by 8 percent while the number of people under the poverty line in rural areas will reduce by 650,000 people. The urban surveyed unemployment rate will maintain within 5.5 percent and that of registered jobless people at 4 percent, Chen added.
Last year, Henan's gross domestic product was expected to exceed CNY4.8 trillion (USD710 billion), an increase of 7.5 percent from the previous year. Almost 8,900 projects were implemented with an investment of CNY615 billion (USD91 billion). The fixed asset investment of the province grew by about 8 percent and the total retail sales of consumer goods rose about 10 percent. Its exports gained almost 14 percent.
The province reduced its firms' tax burden by CNY48 billion and lowered costs of utilities and other fees for them by CNY22.3 billion last year. Some 343,000 new companies were established in 2018 as the tally rose to 59.1 million in total, an increase of 15 percent from the previous year. The added value for large-scale industrial enterprises rose 7 percent while the number of firms that logged more than CNY10 million in terms of their main business was 38 companies.
Editor: Emmi Laine