A view of Jiangyin City (CFP)

Jiangyin is expected to achieve a Gross Domestic Product (GDP) surpassing 500 billion yuan in 2024, according to the fourth session of the city’s 18th People's Congress, which opened on January 6.

This development will position Jiangyin as the second county-level city nationwide to reach the milestone after Kunshan, which is also in Jiangsu Province.

In recent years, Jiangyin has experienced an increasing GDP growth, exceeding 100 billion yuan in 2007, 200 billion yuan in 2010, 300 billion yuan in 2016, 400 billion yuan in 2019, and 496.51 billion yuan in 2023.

Private economy has played a critical role in driving the city’s development, contributing over 70% of the city's GDP and total tax revenue, over 80% of its total industrial economy and fixed asset investment, and about 90% of the employment and the number of enterprises.

The city’s GDP expansion featured robust development of its real economy. In Jiangyin, known as "China's No. 1 Manufacturing County," the added value of industrial enterprises above the designated size grew by 7.3% in the first three quarters of 2024.

While consolidating the advantages of traditional industries, Jiangyin has also focused on building modern industrial clusters, covering high-end textiles, new metal materials, new energy, integrated circuits, and intelligent manufacturing.

Leveraging the advantages of Yangtze River Economic Belt and the Taihu Bay Science and Innovation Belt, Jiangyin has deeply integrated into the Yangtze River Delta integration. From January to October 2024, Jiangyin’s actual use of foreign investment totaled $1.17 billion, reaching a historic high with a year-on-year increase of 13.49%. There were 60 new foreign-invested projects in the period, including six projects with an investment exceeding $100 million each.