Taizhou city's Gross Domestic Product hits 673.17b yuan

Solid economy: A panoramic view of Taizhou city. [Photo/VCG]

The city of Taizhou in East China's Jiangsu province has seen solid recent economic growth and its gross domestic product or GDP hit 673.17 billion yuan ($93.26 billion) in 2023.

That performance represented a year-on-year increase of 6.8 percent, according to the economic and social development report released by the city's bureau of statistics on March 18.

Throughout the year, the value-added output of industrial enterprises above a designated size – those with an annual revenue from their main business of 20 million yuan or more – increased by 7.1 percent year-on-year.

The agricultural sector in particular demonstrated resilience, with a total output value of 57.4 billion yuan, showing 4.3 percent year-on-year growth. Notably, the grain yield per hectare maintained its leading position in the province for the seventh consecutive year at 7,494 kilograms per hectare.

Fixed asset investment jumped by 9.4 percent compared with the previous year. A total of 433 new projects with an investment of over 100 million yuan each began construction, marking a 7.7 percent increase year-on-year.

Elsewhere, the year-end saw a total of 715,100 market entities registered by the market supervision department, indicating a growth of 5.7 percent, with 81,500 newly registered entities during the year. Of these, 178,700 were private enterprises, recording a growth rate of 6.4 percent.

Urban employment experienced an increase of 63,900 million people, reflecting 5.1 percent growth. Additionally, 22,000 individuals were supported in successful entrepreneurial endeavors.

Retail sales of consumer goods reached 170.97 billion yuan, exhibiting  7.6 percent year-on-year growth.

The biggest star of the year was tourism – with the sector posting a whopping 117 percent increase in the number of domestic tourists, reaching 35.63 million trips.

The total value of imports and exports, meanwhile, rose to 134.44 billion yuan, up 2.8 percent compared with the previous year.

In all, the city welcomed 67 new foreign-invested enterprises and approved 36 new overseas investment projects – including 20 projects involved in the Belt and Road Initiative – marking an increase of 15 projects on the previous year.

The general public budget revenue amounted to 43.97 billion yuan, for a 5.5 percent gain.

Per capita disposable income for residents rose to 49,255 yuan, reflecting a 6.2 percent jump on the previous corresponding period.