East China’s Jiangsu province reported steady economic growth in the first four months of the year, as is evidenced by the rapid and recovery growth in the major economic indicators such as industry, investment, and consumption.
From January to April, the industrial added value of enterprises above designated size increased by 27.5% year-on-year, an average increase of 11.2% over 2019.
The added value of high-tech industries from January to April increased by 29.4% year-on-year, averaging a two-year growth rate of 16.7% and posting 5.5 percentage points higher than that of enterprises above designated size.
In April, the province reported sustained growth in the output of integrated circuits, rare earth magnetic materials, carbon fiber and composite materials, solar cells, and new energy vehicles, indicating steady recovery of the industrial production.
From January to April, the province reported a 15.5% year-on-year growth in the fixed asset investment. Industrial investment increased by 13.9%, and infrastructure investment increased by 12.2%.
In the first four months, the province registered 2,157 investment projects with individual investment of more than 1 billion yuan, an increase of 30.6% over the same period last year.Investment volume increased by 24.2% year-on-year, stimulating investment growth by 5.8 percentage points. 159 investment projects that broke ground during the four-month period reported individual investment of 1 billion yuan, a gain of 45 from last year and an increase of 39.4% against the planned investment.
Jiangsu's consumer goods market has generally recovered in the first four months with the rapid growth of the wholesale and retail industry.
The province’s total retail sales of consumer goods increased by 35.2% year-on-year, an average increase of 7.3% over 2019.
Jiangsu reported year-on-year respective growth of 17% and 6.2% in the two-year average growth rate of wholesale and retail sales above designated size. The turnover of the catering industry increased by 9.1%, and the retail sales of automobiles increased by 52.3% year-on-year.
In the first four months, the province’s consumer price index rose by 0.8% year-on-year, an increase of 0.3 percentage points from the first quarter.
