Suzhou’s economy developed smoothly in the first quarter. Large and medium-sized industrial companies registered the fastest output growth in five years, up 7.4 percent year on year to 743.5 billion yuan (US$108 billion).
The city’s electronics, machinery, metallurgy, textile, chemicals, and home appliances industries all expanded during the first three months. Officials attributed the strong growth to robust market demands.
Meanwhile, Suzhou registered 52,500 self-employed businesses, up 40.9 percent from a year earlier. Their combined capitals reached 123.6 billion yuan, up 63.2 percent. Retail sales of consumer goods reached 134.1 billion yuan, up 10 percent.
Suzhou’s general public budget revenue also grew 10 percent to 48.4 billion yuan, representing 23.6 percent of the provincial total. Per capita disposable income of urban and rural residents rose 8 percent and 7.8 percent respectively.
The city’s major industrial companies recorded the biggest income growth in five years, officials reported.