Jiangsu’s economy maintained stable recovery and growth in the first five months of the year, according to data released by the province’s Bureau of Statistics on June 25.
The total added value of industrial enterprises above the designated size registered an 8.8% year-on-year growth during the period, similar to the figure in the first four months, and a growth of 9.6% in May.
Among the top ten industry sectors with the highest added value, the year-on-year growth rates were 19.7% for the automobile sector, 19.2% for electric machinery and equipment manufacturing, and 9.8% for general-purpose equipment manufacturing.
From January to April, the total added value of the service industry enterprises above the designated size increased by 10% year-on-year. Notably, residential services, sports and entertainment, rental and business services, healthcare and social welfare experienced growth rates of 25.7%, 25.4%, 19.3%, 18.8%, respectively.
Jiangsu’s fixed asset investment in the first five months increased by 5.2% year-on-year, with investment into manufacturing and high-tech industries continuing to show rapid growth.
The province's total retail sales of consumer goods hit over 1.89 trillion yuan in the first five months, marking an 11.4% year-on-year increase, 0.2 percentage points higher than the growth rate in the first four months.
In May, the province's total retail sales of consumer goods grew by 12.3% year-on-year. Furthermore, in the first five months, the total revenue of the accommodation and catering sectors increased by 50.7% and 29.3%, respectively.
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