Shiliuyun-Xinjiang Daily (Reporter Gao Feng) news: According to the unified regional calculation of gross domestic product (GDP), Xinjiang achieved a regional GDP of 921.14 billion yuan (about 129.09 billion U.S. dollars) in the first half of the year, which represents a 5.4 percent year-on-year increase at constant prices. This data was released at the press conference on the economic performance of the autonomous region in the first half of 2024, held by the Information Office of the People's Government of Xinjiang Uygur Autonomous Region on July 24, 2024.

Photo taken on July 2024 shows the press conference on the economic performance of the autonomous region in the first half of 2024, held by the Information Office of the People's Government of Xinjiang Uygur Autonomous Region in Urumqi City, northwest China’s Xinjiang Uygur Autonomous Region. (Photo by Shiliuyun-Xinjiang Daily/ Gao Feng)

Hao Junqing, member of the Party group and deputy director of the Bureau of Statistics of Xinjiang Uygur Autonomous Region, said, "Since the beginning of this year, Xinjiang government has firmly grasped the strategic positioning of Xinjiang and focused on the 'eight key industrial clusters', developing new quality productive forces according to local conditions, and making efforts to promote high-quality development. The overall operation of the economy in the region has been generally stable, and the development trend is positive."

An analysis of the growth across the primary, secondary, and tertiary sectors indicates a fundamentally stable production of summer crops, coupled with a rapid increase in the turnover of the livestock sector. Industrial output has demonstrated steady progress, underpinned by robust support from key industries. The service sector continues its recovery trajectory, with a particularly swift growth in transportation and passenger services.

The primary sector has achieved an added value of 58.01 billion yuan (about 7.99 billion U.S. dollars), marking a year-on-year increase of 5.3 percent. The secondary sector has realized an added value of 391.3 billion yuan (about 53.89 billion U.S. dollars), with a significant year-on-year growth of 9.0 percent. The tertiary sector has contributed an added value of 471.83 billion yuan (about 64.99 billion U.S. dollars), showing a year-on-year expansion of 3.0 percent.

From the perspective of investment and consumption driving forces, the scale of investment continues to expand with significant growth in key areas, and investment in new energy projects is experiencing steady growth. The consumer market operates stably, with online consumption remaining robust. In the first half of the year, the investment in fixed assets (excluding rural households) saw a year-on-year increase of 7.7 percent. The total retail sales of consumer goods in the region amounted to 174.17 billion yuan (about 23.98 billion U.S. dollars), marking a year-on-year growth of 0.2 percent, which is a 0.6 percentage point increase from the first quarter.

As the economic aggregate continues to expand, various livelihood indicators are persistently improving. In the first half of the year, the Consumer Price Index (CPI) for the region decreased by 0.1 percent, with the pace of decline narrowing by 0.4 percentage points from the first quarter. Since March, the CPI has been on a continuous upward trend, turning positive from negative in April and with the increase progressively expanding. The core CPI, which excludes food and energy prices, shows a rapid recovery, with a year-on-year increase of 1.4 percent. In the first half of the year, the per capita disposable income of residents in the region was 12,192 yuan (about 1,679.34 U.S. dollars), with a nominal year-on-year growth of 7.2 percent, and an actual growth of 7.3 percent after deducting price factors.

Hao also stated that in the future, it is essential to adhere to the principle of seeking progress while maintaining stability. Continuous efforts should be made to stimulate market vitality and internal momentum, accelerate the cultivation and development of new quality productive forces, and persistently promote the economy to achieve qualitative improvement and reasonable quantitative growth.

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