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Wuxi's GDP expected to exceed 1.5t yuan in 2023

Updated : 2024-01-18
(en.wuxi.gov.cn)

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A bird's-eye view of Wuxi. [Photo/Wuxi Daily]

Wuxi in Jiangsu province maintained stable growth last year with its GDP surging 5.8 percent year-on-ear to exceed 1.5 trillion yuan ($209.96 billion), as revealed in the annual government report delivered by the mayor on Jan 17.

The total output of the city's above-designated-size industrial companies amounted to over 2.5 trillion yuan, and its actual use of foreign capital led the province with a total amount of more than $4 billion. Additionally, the contribution rate of sci-tech progress to the economy is expected to top Jiangsu for the 11th consecutive year.

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An intelligent workshop in Wuxi. [Photo/Wuxi Daily]

Businesses played a crucial role in Wuxi's 2023 economic growth. As of the end of last year, the city was home to more than 1.13 million market entities, an additional 663 industrial enterprises above designated size, and a total of 232 "little giants".

Modern industrial clusters also expanded in the city over the last year with the annual operating revenue of six industrial clusters exceeding 200 billion yuan.

Wuxi also saw fruitful results in innovation-driven development, as evidenced by the presence of 12,453 small and medium-sized tech enterprises, an additional 39 unicorns, and the introduction of 13,000 high-profile talents.

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Wuxi lights up at night. [Photo/Wuxi Daily]

Significant improvement has also made to the living and natural environment in the city last year. Wuxi renovated 10.53 million square meters of old residential communities, built 73 parks, and experienced more than 300 days of good air quality.

Looking forward, Wuxi expects 5.5 percent year-on-year increase in GDP and aims to attract $3.8 billion in foreign capital and create 130,000 jobs this year.

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