The province’s retail sales of consumer goods January through September totaled 2.3 trillion yuan, up 10.9% from a year ago and 0.5 percentage points higher than the national average. The figures also placed Jiangsu the first among all the coastal provinces. Online retail sales continue to surge with a year-on-year increase of 50%.
Major indicators for foreign trade fared better than the national average during the nine-month period, latest figures show.
The imports and exports during the first three quarters rose 20.3% year on year, climbing 20.3% year on year and 3.7 percentage points higher than the national average. The scale of imports and exports ranked second in the country while the increment topped the national list.
The "double-wheeled drive" of advanced manufacturing and modern service industry has gathered momentum with major investment projects and large R&D institutions picking up pace remarkably.
In the first nine months, the new volume of contracted foreign capital reached 38.27 billion USD, up 36.8% year on year. The province also registered 2323 new foreign-invested firms during the period, a gain of 10.1% from a year ago. 8 of these investment projects registered 1 billion USD in total.
In the meantime, more and more Jiangsu-based enterprises are going global. Jiangsu launched 472 overseas investment projects in the first nine months of the year with the Chinese party contributing 7.06 billion USD to the total contracted investment. Sanpower Group, a Jiangsu-based Chinese private conglomerate, has completed its 100% acquisition of Dendreon, from Valeant Pharmaceuticals International, Inc of the USA.
The province’s export to the countries participating in the “Belt and Road” initiative rose 18.5% in the first three quarters, up 24.4% from a year ago. The investment made by Jiangsu-based enterprises in the countries participating in the “Belt and Road” initiative totaled 1.84 billion USD, accounting for 26.1% of the provincial total.
