(CFP)

Jiangsu Province’s gross domestic product (GDP) amounted to over 9.77 trillion yuan in the first three quarters of this year, up 5.7% percent year on year, according to the provincial Bureau of Statistics on October 24.

Overall, the coastal province maintained steady economic progress, with general stability in employment and consumer price index alongside sustained recovery.

In the first three quarters, the total output value of agriculture, forestry, animal husbandry and fishery reached 549.32 billion yuan, showing a year-on-year growth of 3.3%.

The total added value of industrial enterprises above the designated size increased by 7.9% year-on-year. Specifically, foreign-invested enterprises and those from Hong Kong, Macao, and Taiwan saw their added value increase by 7.6%, while state-owned enterprises and private enterprises recorded growth of 7.2% and 8.7% year-on-year, respectively.

The province's total retail sales of consumer goods rose by 4.5% year-on-year. By location, the retail sales of consumer goods in urban and rural areas increased by 3.9% and 8.4% year-on-year, respectively. Meanwhile, online retail sales across the province expanded by 7.5% year-on-year, reaching 922.03 billion yuan during the period.

Fixed-asset investment in Jiangsu increased by 2.4% year-on-year. Infrastructure investment grew by 10.1%, with investments in infrastructure projects over 500 million yuan and 1 billion yuan up 15.3% and 12.8%, respectively. Investment in manufacturing rose by 9.6%, and general equipment manufacturing, metal products, and automotive manufacturing sectors recorded investment growth of 24.0%, 25.9%, and 17.6%, respectively. Real estate investment declined by 9.0%, while private investment grew by 4.6%.

Per capita disposable income increased by 5.0% year-on-year across the province, by 4.5% in urban areas and 6.3% in rural areas. The urban-rural income ratio stood at 2.07, narrowing by 0.04 compared to the same period last year.

Advanced manufacturing sectors experienced rapid growth in the first three quarters. The output value of high-tech industries accounted for 50.8% of the total of industrial enterprises above the designated size, an increase of 0.2 percentage point from the first half of the year.

Jiangsu also recorded robust development of its modern service industries. From January to August, revenue from high-tech service enterprises above the designated size grew by 8.9% year-on-year, with revenue from Internet and related services expanding by 20.9%.