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Taizhou's economy bounces back in first three quarters

LMS| Updated: October 31, 2023

Taizhou in East China's Jiangsu province has experienced significant economic recovery, as seen via the city's economic statistics for the first three quarters of 2023.

During the first nine months of 2023, the city's gross domestic product reached 497.4 billion yuan ($67.96 billion), increasing by 6.8 percent year on year.

Taizhou's added value of the primary industry rose by 4.2 percent, while that of the secondary industry grew by 7.6 percent, among which the construction sector showed a growth of 13.7 percent. The city's added value of the tertiary industry grew by 6.2 percent, with the transportation, storage, and postal sectors experiencing a 12.3 percent year-on-year growth.

The city's consumer market is also steadily recovering, with the total retail sales of consumer goods reaching 130.01 billion yuan, representing a year-on-year growth of 7.7 percent.

Regarding fixed assets, the city's investments into development projects urged significantly, up by 9.8 percent from the previous year and ranking fourth in Jiangsu province.

In comparison, Taizhou's consumer price index saw a moderate rise of 0.8 percent, while the per capita disposable income of residents achieved a steady growth of 6.3 percent.

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