East China’s Jiangsu province adhered to the supply-side structural reform as the main line to achieve continuous optimization of the economic structure and the conversion of new and old kinetic energy last year in the face of the complicated domestic and international environment so thatits overall economic operation remained stable across the province.
Last year, Jiangsu achieved a good start in its high-quality development. The total production value reached 929.54 billion yuan, an increase of 6.7% over the previous year. In terms of industries, the added value of the primary industry was 414.17 billion yuan, an increase of 1.8%. The added value of the secondary industry was 4,124.85 billion yuan, an increase of 5.8%. The added value of the tertiary industry was 4,720.52 billion yuan, an increase of 7.9%.
Jiangsu continued to optimize its industrial structure last year. The added value of industrial enterprises above designated size increased by 5.1% over the previous year. The added value of high-tech industry and equipment manufacturing industry increased by 11.1% and 8% respectively, and the contribution rate to industrial added value increased by 43.4% and 74.2%, respectively, which was 13.3 and 16.6 percentage points higher than the previous year.
The province also continued to deepen its supply-side structural reform last year. The annual steel production capacity was reduced by 800,000 tons and the cement production capacity was 2.1 million tons. From January to November, the asset-liability ratio of industrial enterprises above designated size was 53.16%, down 0.2 percentage points year-on-year, indicating more stable business operations.
In the meantime, the tax reduction and fee reduction policy came into effect. From January to November, the cost per 100 yuan of prime operating income of industrial enterprises above designated size was 85.23 yuan, a decrease of 0.14 yuan year-on-year. the multi-pronged measures helped local enterprises reduce costs by more than 120 billion yuan.
In the past year, Jiangsu also saw its people increase their living standardssimultaneously. The CPI rose by 2.3% over the previous year, indicating a moderate price rise. The province's total retail sales of consumer goods increased by 7.9% over the previous year and continued to be the driving force for economic growth.
1.53 million jobs were created in cities and towns, setting a historic high and exceeding the expected target of 1.1 million. At the same time, the income of residents grew steadily. The per capita disposable income of the province's residents was 38,096 yuan, an increase of 8.8% over the previous year. The sense of the people's gains was significantly enhanced.
(source:ourjiangsu.com)
