With the recovery of the consumption market, the service industry in Taixing, a county-level city administered by Taizhou in East China's Jiangsu province, posted a good performance at the start of this year.
In January and February, the tax revenue generated by Taixing's service industry hit 750 million yuan ($109.01 million), up 5.4 percent year-on-year. The operation revenue of its for-profit service industry above designated size, or those with annual revenue of 20 million yuan and above, reached 890 million yuan, an increase of 23.9 percent year-on-year. The completed investment in the service industry, excluding real estate, reached 1.49 billion yuan, up 8 percent year-on-year.
Taixing residents enjoy a meal at a hot-pot restaurant. [Photo/WeChat account: txfabu]
During the period, Taixing conducted 43 service industry projects with an investment of more than 10 million yuan each, with a total investment of 13.39 billion yuan.
Of the projects, 18 were productive service industry projects, with a total investment of 7 billion yuan, and 25 were livelihood projects, with a total investment of 6.39 billion yuan.
In addition, the Taixing consumer market accelerated its recovery. From January to February, the retail sales of goods increased by 13.9 percent and catering revenue climbed 17.3 percent.
In the future, Taixing will launch guidelines on key points and an investment promotion plan for the development of its service industry, clarifying key measures and goals for the sector throughout the year.