Jinan, capital of East China's Shandong province [Photo/VCG]

Jinan, capital of East China's Shandong province, saw its GDP increase by 3.1 percent year-on-year in the first three quarters, hitting 864.2 billion yuan ($118.79 billion), according to local statistics authorities.

Jinan's economy embraced steady growth from January to September as local government's stabilizing economic policies gradually took effect.

The total output value of agriculture, forestry, animal husbandry and fishery industries reached 54.85 billion yuan, up 4.1 percent year-on-year during the period. The city's fixed-asset investment rose 0.8 percent year-on-year and the city's industrial investment grew 13.2 percent year-on-year.

In the first three quarters, the added value of the city's service industry was 550.56 billion yuan, an increase of 3.9 percent year-on-year, accounting for 63.7 percent of its total GDP. From January to August, the operating revenue of the service industry above designated size reached 218.58 billion yuan, up 5.4 percent year-on-year.

Jinan saw robust foreign trade growth during the period, with the city's total import and export value hitting 165.6 billion yuan in the first nine months, up 22.4 percent year-on-year. Its exports rose 28.9 percent to 103.18 billion yuan, and its imports increased 12.9 percent to 62.42 billion yuan.

People's quality of life in the city has also improved. From January to September, the per capita disposable income of all residents in Jinan was 236,623 yuan, up 4.8 percent year-on-year. Specifically, the figure for urban residents was 44,407 yuan, up 3.8 percent, and 19,705 yuan for rural residents, a 5.3 percent increase.

The consumer price index (CPI) rose 1.4 percent year-on-year in the first three quarters, and has maintained a moderate upward trend.