Hunan's service sector maintained a sound operation in terms of revenue from January to May, official data showed on July 4. The combined operating revenue of major companies in the sector reached 230.624 billion CNY, up 5.2% year on year, according to the Hunan Provincial Bureau of Statistics. Among the 34 industries, 25 achieved revenue increase, resulting in an industrial growth coverage rate of 73.5%.

The main industries provided strong support for overall growth. In the first five months, the operating revenue of provincial software and information technology services, road transport, professional and technical services, and business services increased by 15.7%, 11.0%, 8.7%, and 7.4% respectively. They contributed 87.9% to the total growth of Hunan's large scale service sector.

As the tourism market continues to heat up, transportation, leisure and entertainment, scenic spot management and other cultural and tourism-related industries are developing strongly. The operating income of air transportation industry grew by 89.3% year on year, with the aviation passenger trips increasing by 143%. The leisure and sightseeing, amusement parks, scenic spot management, and other entertainment industries saw a significant increase in operating revenue.

The profitability of enterprises has increased. During the Jan-May period, the province's service enterprises above designated size achieved a total profits of 18.446 billion CNY, an increase of 12.8%. There were 30 of the 34 industries gaining profits, with a profitability rate of 88.2%, the same as the previous four months. The overall profitability of enterprises was 74%, an increase of 1.4 percentage points over the previous four months.

Translator: Yu Jiangjiang

Chinese source: hunan.gov.cn