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Sound and Stable Economic Performance in First Four Months
updated on:2019-06-06 10:40

Results released by Jiangsu Department of Statistics on 27th revealed that Jiangsu’s economy in the first four months maintained a good momentum and stability.

The first four months saw a rapid recovery of the industrial economic growth in Jiangsu. The industrial added-value from industries above a designated scale grew by 5.1% over the previous period, which was higher than the annual goal of 5%. Industrial added-value of hi-tech sector increased by 6.9% year-on-year, among which electronics and pharmaceuticals witnessed the fastest growth, registering 4.8% and 15.1% of growth rate over the previous period, respectively. There was greater input for technological retrofit. From January to April, industrial input and investment for technological advancement have gone up by 2.5% and 9.6%, respectively; and investment in the hi-tech sector increased by 8.2% year-on-year. Auto mechanics, metallurgy and textile showed greater resilience due to continuous technological and device upgrading that enabled lower cost and greater competitiveness. Construction materials, ship building and some emerging industries including rail transit, PV and software grew rapidly, as both productions and sales were booming.

The first four months also witnessed a 2.4% increase in investment for fixed assets across the province, 0.8 percentage points higher than that of the first quarter. Industrial investment grew by 2.5%; non-government investment 4.2%; investment in real estate development 7.8%; investment in the manufacturing sector 3.7%; and investment in the hi-tech sector 8.2%.

Total retail sales of consumer goods grew by 6.1% in the first four months. Fastest growth was in some upgrading consumer goods. Books and magazines increased by 49.5% while Chinese and western medicines grew by 9.3% over the previous period. Meanwhile, goods related to energy saving and environment protection maintained a good momentum in growth. The retail sales of efficiency Grade 1 and 2 goods in household appliances and audio and video equipment went up by 60.5%, and the retail sales of new energy automobiles increased by 60.2%.   

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