On October 31, Changzhou Statistics Administration released the city’s economic indicators for the first three quarters of this year. From January to September, the city’s GDP recorded RMB 656.31 billion, an increase of 2.8% measured by PPP, 0.5 percentage points higher than the provincial average, ranking first in southern Jiangsu. The value added of the primary industry reached RMB 8.95 billion, a year-on-year increase of 1.7%; the value added of the secondary industry reached RMB 319.54 billion, a year-on-year increase of 5.1%; the value added of the tertiary industry reached RMB 327.81 billion, a year-on-year increase of 0.6%.

On a macro level, the economy in Changzhou has achieved generally stable growth while making further progress. The secondary industry has acted as a ballast for growth. In the first three quarters, the value added of industries above the designated size increased 8.2%, ranking first in southern Jiangsu for six consecutive months by growth rate. The output value of industries above the designated size increased 11.8% compared with the same period last year, among which the private industries increased 16.1%. In particular, the output value of bio-medicine and machinery rose 39.3% and 19.6% respectively.

Meanwhile, market expectations have rallied this year, with signs seen in both investment and consumption.

Figures show that from January to September, the city’s program investment rose by 9.2%, and investment in manufacturing increased 9.4%. During the same period, the materialized foreign capital reached USD 2.02 billion, an increase of 22.7%. There are 42 newly-signed programs with foreign-invested companies exceeding USD 30 million in contract, 12 such projects exceeding USD 100 million.

As for consumption, the total retail sales revenue registered 206.82 billion yuan until the end of September. The disposable income of residents per capita increased 4.7% year-on-year, a rate faster than economic growth. Moreover, the income gap between urban and rural areas had narrowed. The urban average income ratio to that of the rural area was 1.84, 0.02 points down from last year.

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