Hebei province’s GDP is expected to exceed 2.0015 trillion yuan this year, according to the latest Hebei Provincial Macroeconomical Monitoring Monthly.

According to the report released by Hebei Provincial Economic Information Center, rapid economic growth during the first half of the year laid a solid foundation for growth during the second half. But macroeconomic control will be a dilemma, and it is estimated that the speed of financial growth will drop in the third quarter. However, Hebei province’s GDP in the first three quarters may still amount to around 1.47 trillion yuan, or increase by 13.4 percent compared to the same period last year. In the first three quarters, primary industry GDP could reach 201 billion yuan, the secondary industry GDP 802 billion yuan and GDP of the service sector will hit 469.7 billion yuan. Hebei province’s GDP is expected to rise 13 percent over the course of the year.

In the third quarter, consumption in Hebei, disposable income of townspeople per capita, and peasants’ net income will increase fast. It is estimated that during the first three quarters, peasants’ net income will amount to 5,350 yuan, urban per capita disposable income will reach 12,042 yuan and retail sales of consumer goods will hit 479.2 billion yuan. Peasants’ net income will rise to 5,651 yuan, urban per capita disposable income will notch in at 16,218 yuan and retail sales of consumer goods will top 686.4 billion yuan this year.

By Audrey and Liu Aizhang (Chinadaily.com.cn)