A view of Suzhou (CFP)
Shanghai’s GDP in the first half of the year increased by 4.8% to over 2.23 trillion yuan, the largest among the 41 cities in the Yangtze River Delta. Suzhou of Jiangsu Province and Hangzhou of Zhejiang Province took the second and third place, respectively, with GDPs exceeding one trillion yuan each.
In the delta region, 23 cities reported a GDP of more than 200 billion yuan in the first half of the year, with all 13 cities in Jiangsu included.
In terms of growth rate, the delta region performed well overall, with 34 cities surpassing the national GDP growth rate of 5% for the first six months.
Five cities in Jiangsu - Suqian, Huai'an, Xuzhou, Lianyungang, and Suzhou - achieved GDP growth rates exceeding 6%. Notably, Suqian and Huai'an emerged as the fastest-growing cities in the delta, with growth rates of 7.3% and 7.1%, respectively.
Seven cities in Zhejiang ranked among the top ten in terms of growth rates in the delta, with Shaoxing achieving an economic expansion of 7%.
The region’s cities also found new growth points in foreign trade. In the first half of the year, Suzhou achieved total imports and exports of about 1.2 trillion yuan, an increase of 9.2% compared to the same period last year. In Suzhou, private enterprises achieved foreign trade of more than 477 billion yuan, representing an increase of 13.6% and accounting for 38.8% of the city's total foreign trade.
In addition to Europe and the United States, the region’s foreign trade with emerging markets such as ASEAN, India, and Latin America showed strong growth. Suzhou's trade with the Middle East, Mexico, and India increased by 10.6%, 15.9%, and 16.7% year-on-year, respectively.