The added value of Sichuan’s private economy in the first half of the year is 1.2 trillion yuan

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on August 27, Sichuan held a video conference on promoting the development of private economy and small and medium-sized enterprises in Sichuan Province, at which the semi annual development report and index of private economy in Sichuan Province were released.

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it is understood that at present, the main indicators of the private economy are showing a trend of stabilization and recovery, and gradually getting better. Among them, in the first half of 2020, the added value of private economy in Sichuan Province was 1.2 trillion yuan, accounting for 54.1% of GDP, 0.8% higher than that of the first quarter, and the growth rate of private investment was 4.7%, 8.6 percentage points higher than that of the first quarter. As of the end of June, the province has reduced 38.54 billion yuan of taxes and fees for enterprises, and the balance of private economic loans has reached 1.5 trillion yuan, an increase of 9.8% over the same period of last year. The accumulated burden of social security policies has been reduced by 22.5 billion yuan, and 27.8% of funds have been returned to stable posts 100 million yuan.

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the private economy of the primary and secondary industries recovered positive growth. The

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reports show that in the first half of 2020, the growth rate of private economy is – 1.3%, narrower than that of the first quarter (- 5.8%). In terms of industry, the added value of private economy in the primary industry was 59.33 billion yuan, with a growth rate of 0.4%; the added value of private economy in the secondary industry was 626.67 billion yuan, with a growth rate of 0.5%, of which, the industrial added value was 525.56 billion yuan, the growth rate was 0.7%, the added value of construction industry was 101.11 billion yuan, with a growth rate of – 0.5%; the added value of private economy in the tertiary industry was 511.6 billion yuan, with a growth rate of – 4.8%. It can be seen that the primary and secondary industries resumed positive growth, while the decline rate of the tertiary industry narrowed (the growth rate in the first quarter was – 11.8%). The growth rate of the construction industry was 13% higher than that in the first quarter.

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added 602500 private economic market entities. In the first half of 2020, although the growth rate of private investment in Sichuan decreased by 3.2 percentage points compared with the same period last year, compared with the growth rate (- 3.9%) in the first quarter of this year, Sichuan’s private investment has turned from negative to positive, 8.6 percentage points higher than the growth rate in the first quarter and 12 percentage points higher than that in the whole country. Private investment accounted for 48.4% of the total social investment. Moreover, by the end of June 2020, there were 6.382 million private economic market entities in Sichuan, with a year-on-year growth of 21.38%, accounting for 97.42% of the total market entities. In the first half of 2020, 602500 private economic market entities will be added, accounting for 98.36% of the new market entities. In addition, by the end of June 2020, the number of registered urban employment in Sichuan Province was 18.77 million. Among them, 15.03 million people were registered in the private economy, an increase of 2.24% over the first quarter of this year. 438800 new jobs were created in the province, and 389100 new urban jobs were absorbed by the private economy, an increase of 125% over the first quarter.

Chengdu Business Daily Red Star journalist Ye Yan Deng Wenbo

original title: Sichuan private economic added value of 1.2 trillion yuan

in the first half of the year