Jiangsu records year-on-year increase of 8.8% in industrial added value

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East China’s Jiangsu province recorded a year-on-year increase of 8.8% in industrial added value in the first five months of this year, according to statistics released Sunday by the provincial bureau of statistics.

Statistics show that from January to May, Jiangsu recorded a year-on-year increase of 8.8% in the added value of industries above designated size, which remained unchanged from the January-April period. Among the top ten industries ranked by cumulative added value, the automotive manufacturing industry grew by 19.7%, the electrical machinery and equipment manufacturing industry grew by 19.2%, and the general equipment manufacturing industry grew by 9.8%.

With the impact of various policies for stable investment and the acceleration of major project construction, from January to May, the province recorded a year-on-year growth of 5.2% in the completed amount of fixed assets investment.

Investment in the manufacturing industry has significantly picked up. From January to May, Jiangsu recorded a year-on-year growth of 10.6% in manufacturing investment, 5.4 percentage points higher than the total investment.

Jiangsu reported a continuous acceleration in the growth rate of high-tech industry investment, with the province recording a year-on-year increase of 9.3% in high-tech industry investment. The growth rate has accelerated for three consecutive months since the beginning of the year, contributing 32.2% to investment growth.

The province reported continuous recovery in the consumer market. From January to May, Jiangsu recorded 1.89 trillion yuan in total retail sales of consumer goods, up 11.4% year-on-year. The retail sales of automobiles increased by 13.7% year-on-year, continuing the growth trend from the period from January to April.

Jiangsu reported a strong recovery in the cultural and tourism market, stimulating the rapid growth of the accommodation and catering industry. From January to May, the province recorded a 50.7% and 29.3% increase in the revenue of the accommodation and catering industries respectively, which were 0.4 and 0.9 percentage points higher than those from January to April.

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