East China’s Jiangsu province is expecting steady economic growth in the second half of this year, according to statistics released recently by the provincial commission of economy and information technology.
The industrial added value of the enterprises above designated scale surged 5.8% year on year in the first seven months of this year. The growth rates in southern Jiangsu and central Jiangsu edged up 6.9% and 7.6%, 1.1 percentage points and 1.8 percentage points higher than the provincial average.
Nanjing, Wuxi, Changzhou, Suzhou and Nantong saw faster growth rates than the provincial average, giving strong incentive to the province’s industrial growth.
The city of Wuxi maintained a growth rate 4 percentage points higher than the provincial average, ranking first in the province since the start of this year.
The industrial use of electricity, the barometer of industrial growth, picked up 5.7% in the seven-month period, 3.4 percentage points higher from the same period of last year.
The transportation industry saw its freight volume gain by about 5.5% from a year ago.
The declared sales revenue of industrial taxpayers in the province increased by 16.1% yearonyear, posting double-digit cumulative growth for 18 months in a row.
The structural upgrading of key industries and the rapid growth of emerging industries promoted the recovery of industrial profits.
The industrial revenue of the enterprises above designated scale totaled 403.6 billion yuan in the first six months of the year, up 7.9% year on year. Steel, basic chemical, engineering machinery and automobile saw the fastest profit growth, which jointly contribute 5% to the province’s entire industrial growth. Marine equipment and engineering, robot, fiber optics and glass fiber also reported faster growth than ever.
In the second half of the year, the country's increased investment in infrastructure and the loosening of funds in the real economy is expected to make Jiangsu more optimistic about the smooth operation of its industrial economy.
(source:ourjiangsu.com)
