(CFP Photo)
The gross domestic product (GDP) of Jiangsu Province in the first quarter increased by 6.2% year-on-year to over 3.1 trillion yuan, continuing the stable recovery and growth observed since last year, according to the provincial statistics bureau on April 22.
The province's total output value of agriculture, forestry, animal husbandry and fishery reached 124.75 billion yuan, up 3.7% year-on-year.
The added value of industrial enterprises above the designated size saw a year-on-year expansion of 9.5%, 4.0 percentage points than the same period last year. In Jiangsu, 35 out of 40 major industrial categories, or 87.5%, realized positive growth in added value.
Private companies played an important role in supporting the economic growth. Data showed that the province's private industrial enterprises above the designated size saw an added value increase of 11.4%, contributing to 62.2% of the total value increase. Additionally, private investment grew by 7.1% year-on-year.
The high-tech sector contributed 50.2% of the total added value by industrial enterprises above the designated size. This also underscores the industrial structural upgrading in Jiangsu’s pursuit of high-quality development.
In the first quarter, the output of solar batteries, lithium-ion car batteries, and charging piles increased by 19.6%, 23.1%, and 20.7%, respectively. Services in biotechnology, new material, and new energy increased by 38.7%, 177.4%, and 38.9%, respectively.
Consumer market in the province continued to recover thanks to the integrated development of culture and tourism sectors, with total retail sales of social consumer goods exceeding 1.24 trillion yuan, up 6% year-on-year.
Jiangsu’s retail sales of consumer goods in rural areas amounted to 154.31 billion yuan, an increase of 8.6% year-on-year, outpacing the urban growth. This achievement was supported by accelerated income growth for rural residents and continuous market improvements in the countryside.
Online retailing played a pivotal role in driving the consumer market. The province accomplished online retail sales of 294.54 billion yuan in the first quarter, up 12.3% year-on-year.
