East China’s Jiangsu province has made strenuous efforts to coordinate epidemic prevention and control and social and economic development so as to have gained gradual economic recovery and stabilization.
Statistics show that in the first half of the year, Jiangsu reported a regional GDP of 5.69091 trillion, a year-on-year increase of 1.6%.
In April, Jiangsu reported a deep decline in major economic indicators, and the recovery began to accelerate in May. As a key measure to stabilize the economy, Jiangsu expanded effective investment in the first half of the year so as to have promoted the construction of projects.
The Beijing-Shanghai Expressway expansion project will expand the 4 lanes to 8 lanes to substantially improve the traffic capacity.
Chen Shangkai, Vice Minister of Development and Reform Division, Jiangsu Communications Holding Co., Ltd.
Zheng Rong, Government Debt Management Division, Jiangsu Provincial Department of Finance
In the first half of the year, Jiangsu issued a series of policies to help enterprises tide over difficulties and stabilize growth by taking measures such as a combination of tax and fee support policies, reduction or exemption of state-owned housing rents, and increased financial credit support.
28 of the 40 major industrial sectors in Jiangsu achieved year-on-year growth, indicating continuous improving market expectations and more abundant development confidence.
In the first half of the year, Jiangsu reported more than 270 billion yuan in the total amount of tax rebates, tax reductions, tax exemptions, and tax deferrals and 5.089 billion yuan in state-owned housing rents were reduced or exempted while the balance of deposits and loans increased by 12.6% year-on-year.
Huang Shengdi, Chairman of Nanjing Wavelength Optoelectronics Technology Co., Ltd.
Jiangsu has also introduced 23 policies to promote consumption by allowing stores to operate outdoor stalls, delaying payment of water and electricity bills, reducing or exempting scenic spot tickets, and issuing shopping subsidies to further stimulate market consumption.
Consumer
Ma Juan, Front Office Manager, Xingcheng West Road Store, Yangzhou Garden Teahouse
In the first half of the year, Jiangsu reported a 3.3% year-on-year increase in fixed asset investment, a 9% year-on-year increase in the added value of high-tech manufacturing, the largest increase in employment in the country. The province also contributed 13.6% to the national summer grain output increase, and the total value of imports and exports accounted for 13.3% of the national total.
Du Yuwei, Vice President of the Regional Modernization Research Institute of Jiangsu Academy of Social Sciences
