According to Zhognshan Development and Reform Bureau, Zhongshan sees steady and progressing economic operation in 2017. The added value of the city’s service sector increased 9.1% year-on-year to 164.845bn yuan. It is worth mentioning that the added value of modern service industry exceeded 100bn yuan for the first time, reaching 101bn yuan and accounting for 61.3% of the added value of the service sector.
Statistics show that the growth rate of Zhongshan’s service sector was 2.5 percent points and 4.2 percent points higher respectively than that of gross product and added value of the secondary industry. Zhongshan’s service sector accounted for 47.8% of the overall economy, with 2.3 percent points higher over the previous year. It contributed 28.317bn yuan tax revenue (17.3% growth), brought about 92.023bon yuan social fixed assets investment (12.5% growth) and promoted 130.99bn yuan total retail sales of consumer goods (8.6% growth).
Additionally, the contribution rate of service sector to economic growth increased to 60.55% for the first time, with 5.3 percent points higher. Service sector has become the main power of the economic development by driving the city's GDP up by 3.98%.
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