Yangtze River Delta's economy makes V-shaped recovery in Q3
2022-11-09 14:15:00

The total GDP of the Yangtze River Delta in the first three quarters of the year reached 20.96 trillion yuan, accounting for 24% of the country's total.

The Yangtze River Delta, one of the China's economic hubs, includes Jiangsu, Zhejiang and Anhui provinces, and the municipality of Shanghai. The four areas and 41 cities in the delta have all released their major economic indicators recently.

The top 10 economic powers in the delta region are Shanghai, Suzhou, Hangzhou, Nanjing, Ningbo, Wuxi, Nantong, Hefei, Changzhou and Xuzhou, the same ranking as last year.

Among the four areas, Jiangsu had the largest GDP at about 8.86 trillion yuan and a year-on-year growth of 2.3%, followed by Anhui and Shanghai, with GDP of about 3.37 trillion yuan and 3.09 trillion yuan, respectively.

Despite pressure from demand contraction, supply shocks and weakening expectations, major economic indicators across the delta managed to achieve a V-shaped recovery in the third quarter, showing the region's strong resilience and market vitality.

In Shanghai, the financial sector expanded by 6.2% year-on-year, and the IT and telecommunications industry also increased by 6%.

The three provinces of Jiangsu, Zhejiang and Anhui reported year-on-year growth in fixed asset investment of 10%, 8.8% and 3.5% respectively.

Jiangsu's manufacturing investment maintained a strong increase of 11.2%, and investment into the service industrywent up by 19.5%.

Source:jschina.com.cn Editor:Dylan