HAIKOU, 28 October. /TASS/. The GDP volume of the southern Chinese province of Hainan in the first three quarters of 2024 grew by 3.2% in annual terms to 558.3 billion yuan (about $78.6 billion), Hainan Daily reported with reference to official data.

According to the paper, the province's major economic indicators have been improving steadily in the first three quarters, and its economic activity has been growing steadily. Local authorities have made every effort to stabilise economic growth, increase demand, accelerate growth and take measures to cope with the negative impact of the recent super typhoon that hit the province.

The primary sector of the economy grew 2.3% year-on-year to 114.2 billion yuan ($16 billion) during the period. The secondary sector grew 4.4% to 104.3 billion yuan ($14.6 billion) and the tertiary sector grew 3.1% to 339.7 billion yuan ($47.8 billion). The data showed that positive growth was recorded in agriculture, industry, services, fixed asset investment, the consumer market, personal income and environmental conditions.

In the first three quarters, the value added of the province's service sector grew by 3.1% year on year. Total imports and exports of goods increased by 20.2%  year on year. Per capita disposable income exceeded 25.7 thousand yuan, up 4.8% year on year.

Total retail sales of consumer goods in Hainan for the three quarters were 171.5 billion yuan ($24.1 billion). Sales of home appliances and audio-visual equipment increased by 26.6%, communication equipment by 9.2% and environmentally friendly cars by 9.4%. In addition, the province's fixed asset investment increased by 5.9 % year-on-year. There was also a significant increase in the number of new projects during the period.