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Xinghua's economy logs steady expansion in Q1

etaizhou.gov.cn| Updated: May 16, 2023

The economy of Xinghua – a county-level city administered by Taizhou in East China's Jiangsu province – showed steady growth in the first quarter this year, according to official statistics.

Total economic output

The regional GDP of Xinghua in the first quarter hit 26.61 billion yuan ($3.83 billion), an increase of 6.5 percent. The growth rate was 2, 1.8, and 0.4 percentage points higher than that of national, provincial, and Taizhou respectively.

The city's added value of the primary, secondary and tertiary industry in Q1 was 1.73 billion yuan, 9.74 billion yuan and 15.14 billion yuan, and up 4.1, 6.6 and 6.7 percent respectively. The added value of the three industries accounted for 6.5, 36.6 and 56.9 percent of the regional GDP of Xinghua.

Industrial economy

The industrial output value of industries above a designated size – those with a value of more than 20 million yuan – hit 24.04 billion, up 10.2 percent. Industrial added value above a designated size reached 5.13 billion yuan, up 10.2 percent. Both numbers were the second highest in Taizhou.

The combined output value of the city's three leading industries – stainless steel products, health food and equipment manufacturing – hit 18.67 billion yuan, up 11.3 percent.

The output value of the stainless steel products industry and health food industry was 10.49 and 5.18 billion yuan, up 11.2 percent and 17.8 percent respectively.

Consumer market

In the first quarter, the total retail sales of consumer goods in the city reached 9.63 billion yuan, an increase of 6.9 percent.

The wholesale and retail industry performed well, with sales revenues increasing by 18.5 and 16.2 percent respectively, ranking third and first in Taizhou.

The revenue of the accommodation and catering industries increased by 32.2 and 18.1 percent respectively, both ranking third in Taizhou.

Resident income

The per capita disposable income of residents in the city was 13,001 yuan, an increase of 5.1 percent.

Specifically, the per capita disposable income of urban and rural residents was 15,351 and 10,347 yuan, an increase of 4.2 and 6.4 percent respectively. The ratio of per capita disposable income between urban and rural residents was 1.48, a decrease of 0.03 percentage points compared to the same period last year.

Financial revenue and expenditure

The general public budget revenue of the city rose to 1.39 billion yuan, an increase of 6.4 percent.

Tax revenue totaled 1.1 billion yuan, accounting for 79.4 percent of the general public budget revenue.

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