Latest statistics show that Chongchuan district of Nantong saw stable economic growth in the first quarter of 2021. [Photo/ntfabu.com]

Latest statistics show that in the first quarter of this year, Chongchuan district – administered by Nantong in East China's Jiangsu province – ranked first in Nantong in terms of five main economic indicators such as regional gross domestic product and general public budget revenue.

"On the whole, Chongchuan district has reported stable economic growth in Q1, with improved production, unleashed potential and increasing demand for consumption," according to an official from the district's statistics bureau.

The regional GDP of Chongchuan topped 37.9 billion yuan ($5.85 billion) in Q1, up 19.8 percent year-on-year and 0.6 percentage points higher than the provincial and municipal average.

The industrial added value above designated size grew by 30.5 percent during the period. The service sector of the economy recovered fully. The operation revenue of service industry enterprises above designated size in Chongchuan reached 6.09 billion yuan in the first two months of 2021, up 36.7 percent.

It is worth mentioning that Chongchuan's high-tech manufacturing industry showed a strong growth trend. In Q1, Chongchuan's investment in fixed assets increased by 50.7 percent over the same period last year, with investment in high-tech manufacturing climbing by 93.9 percent.

In that period, retail sales of consumer goods in the district were 17.04 billion yuan, up 41.6 percent. The per capita disposable income for urban residents in Chongchuan was 20,648 yuan, maintaining top ranking in Nantong.

The restorative economic growth also brought about a stable increase in fiscal revenue. Statistics show that Chongchuan has seen a growth of 17.7 percent in general public budget revenue.