In 2020, Jingzhou advanced epidemic control and economic and social development in a coordinated manner,the economy recovered better than expected, achieved GDP of 236.904 billion yuan, down 5.9 percent from 2019 at comparable prices, narrowing by 29.6 percent compared to the first quarter in terms of decline. The Jingzhou Municipal People's Government held a press conference on February 8 to report Jingzhou's economic operation in 2020.

2020 saw the steady recovery of Jingzhou's economy. Agricultural production fully recovered, the grain yield grew steadily, and the added value of agriculture, forestry, animal husbandry and fishery stood at 48.454 billion yuan. The recovery of industrial production accelerated, high-tech manufacturing grew fast, the added value of industrial enterprises above the designated size was down 7.8 percent from 2019, narrowing by 46.1 percent compared to the first quarter in terms of decline (above Hubei's average level), and registering growth for 8 months in a row; the added value of high-tech industries was down 2.2 percent year on year, 5.6 percent higher than the growth of the added value of industrial enterprises above the designated size. The fixed assets investment recovered steadily, down 22.4 percent from 2019, narrowing by 61 percent compared to the first quarter in terms of decline; the monthly investment has been up year on year for 6 months in a row since July. The consumption sector continued to recover, online consumption grew substantially, and the total retail sales of consumer goods reached 128.449 billion yuan. The imports & exports continued to grow; the foreign investment picked up rapidly and stood at 1.735 billion U.S. dollars, up 2.2 percent from 2019, increasing by 42.6 percentage compared to the first quarter in terms of growth. Financial revenues & expenditures were guaranteed and the financial market was robust. The decline in residents' income was narrowed; the per capita urban and rural disposable income was 34,474 yuan and 18,817 yuan respectively, down 4.0 percent and down 0.4 percent year on year.

At the press conference, the heads of the Jingzhou Municipal Bureau of Statistics and the Jingzhou investigation team of the National Bureau of Statistics replied to citizens' concerns. According to an income analysis of Jingzhou's residents in 2020, there are still favorable conditions for an increase in residents' income in 2021, with the disposable income expected to further recover. Affected by the consumer price index in 2020, this year the index is expected to go down and then up within a reasonable range.

After going through the three "tough battles" against the epidemic, the flood and poverty, the recovery of Jingzhou's industrial economy accelerated in 2020. The added value of industrial enterprises above the designated size has grown for eight months in a row since May, and basically restored to the growth level of 2019 in the fourth quarter. In terms of enterprise coverage and key industries, over 60 percent of industrial enterprises achieved growth. In December alone, 717 of industrial enterprises above the designated size registered output value growth, accounting for 60.1 percent of all industrial enterprises in Jingzhou; 22 industrial sectors achieved growth, accounting for 64.7 percent of all industrial sectors in Jingzhou; the total profit of industrial enterprises above the designated size was done 1.3 percent year on year only.

In the meantime, we should soberly realize that Jingzhou's fixed assets investment has plunged after the epidemic. To reverse the investment tide as soon as possible, the key is to vigorously introduce, advance and accelerate projects. We should strengthen project analysis, make great efforts on investment promotion, conduct early planning for Jingzhou's pillar industries, conduct investment promotion in a diversified, massive and agglomerative way, and expedite the progress of projects under construction.