The industrial added value of enterprises above designate scale increased by 5.4% year on year in the first ten months of this year, according to latest statistics released by the provincial bureau of statistics.
The added value of the high-tech industry maintained double-digit growth for four consecutive months. In October alone, the hi-tech sector contributed 60.5% to the province’s entire industrial industry, indicating strong growth momentum for subsequent growth. The electronics industry posted a 14.7% increase in October, playing a supporting role while production of related companies rebounded significantly.
The recovery in production has also led to a corresponding increase in investment. From January to October, the province's fixed asset investment increased by 5.6% year-on-year. Among them, the high-tech industry completed an investment of 460.83 billion yuan, a year-on-year increase of 15.2%, accounting for 14.1% of the total investment and up 1.1 percentage points year on year.
At the same time, the private sector continued to show its willingness to make investment. In the first 10 months, the province registered over 2.3 trillion yuan of private investment, a year-on-year increase of 10.1% and 4.5 percentage points faster than the total investment. The proportion of total investment increased from 67.9% in the same period last year to 70.8%, contributing to the province’s investment growth from 83% to 123.9%.
The province’s consumption continued to maintain momentum as is evidenced by the increase in the total retail sales of consumer goods in the first 10 months by 8.6% year-on-year. The wholesale and retail sales increased by 5.0%, and accommodation and catering industry increased by 5.9%. At the same time, the province reported moderate CPI growth with the figures rising by 2.3% year-on-year.
Jiangsu also maintained stable and orderly financial and financial operation during the ten-month period. From January to October, the province recorded 737.89 billion yuan of general public budget revenue, a year-on-year increase of 8.6%. At the end of October, the balance of RMB loans of financial institutions in the province increased by 13% year-on-year, 5.4 percentage points higher than the increase of deposit balance, indicating that the expected index of economic growth is in the rising range.
(Source:ourjiangsu.com)
