Taixing city, administered by Taizhou city in East China's Jiangsu province, reported upward momentum in its economic operations in the first quarter, achieving a good start to the year.
In Q1, Taixing's gross domestic product hit 36.58 billion yuan ($5.06 billion), rising 7.9 percent on the previous corresponding period.
As for agricultural production, the combined growth rate in the added value of agriculture, forestry, animal husbandry and fisheries was 5.6 percent during the period.
In the first three months, the city's industrial electricity consumption increased by 8.8 percent year-on-year. Its total output value of manufacturers above a designated size – those with main annual revenue of 20 million yuan or more – increased by 7.3 percent year-on-year, while the total industrial added value of enterprises above a designated size increased by 9.5 percent year-on-year.
Moreover, the added value of the service industry increased by 9.2 percent year-on-year, 2.4 percentage points above the gain for the full year in 2023. Notably, the added value of the financial industry increased by 15.3 percent during the period.
In Q1, the city saw its fixed assets investment increase by 11.1 percent compared with the same period last year. Of that, manufacturing investment increased by 18.9 percent year-on-year.
During the period, the value of the city's total imports and exports of foreign trade hit $1.61 billion and port throughput reached 17.11 million tons – both setting records.
The statistics showed foreign trade and port throughput increased by 28.9 percent and 39.1 percent, respectively, compared with the same period last year.
What's more, the per capita disposable income of Taixing's residents reached 15,497 yuan, a year-on-year increase of 5.7 percent. Specifically, the per capita disposable income of urban residents and rural residents came in at 18,086 yuan and 11,842 yuan, respectively.
Intelligent equipment is increasingly on the move in factories and production plants throughout Taixing city. [Photo/WeChat account: txfabu]