East China’s Jiangsu Province reported a stable economic growth in the first five months of the year and showed strong signs of recovery and rebound, according to the province’s Department of Statistics on June 22.

File photo/CFP

Major indicators of industry, investment and consumption have all maintained a steady growth. Most industries in the province achieved faster growth during the period, with the value-added of industrial enterprises above designated size up 23.8% year on year, or an average growth rate of 10.9% than in 2019. The rapid growth was also reported in manufacturing sectors including electrical, automotive, special equipment, general equipment and metal products.

From January to April, the province's service enterprises above designated size saw their revenues expand by 39.7%, with faster growth achieved in business services, software and information technology services, and Internet.

In the five months, the province's fixed asset investment grew by 12.8% year-on-year.  In breakdown, investment growth in industrial, infrastructure and real estate sectors went up 11.6%, 3.5% and 17.5%, respectively.

The accommodation and catering sectors also showed a strong growth. The total retail sales of consumer goods in the province increased by 31.2% year-on-year, the sales of wholesale and retail enterprises above designated size soared by 40.5% and 31.5%, respectively.

Contact us at english@jschina.com.cn