Changzhou's first-quarter GDP stood at 206.66 billion yuan, up 4.8 percent year on year despite the impact of the COVID-19 resurgence in March, according to data released by the Municipal Bureau of Statistics on April 22.
The overall economy has achieved a good start. The value added of the secondary sector grew to 97.88 billion yuan in the first quarter at an average annual rate of 6.8 percent, while that of the tertiary sector surged 3.3 percent to 106.62 billion yuan. The value added of the primary sector dipped slightly by 0.4 percent to 2.16 billion yuan.
Changzhou’s Q1 growth in exports was 7.2 percentage points higher than that of the Jiangsu province. In terms of foreign direct investment, there were four projects each with an investment of over 100 million US dollars. In addition, fixed-asset investment registered a year-on-year increase of 0.9 percent.
From January to March, the value added and total output of the city’s medium and large industrial enterprises increased by 8.1 percent and 14.3 percent on a yearly basis.
The Q1 investment in the industrial sector soared by 27.3 percent year on year, while that in services fell by 0.2 percentage points. Investment by state-owned enterprises expanded 23.8 percent, while that by private businesses edged up 0.2 percent. Expenditures for research and development registered a 14.2-percent year-on-year increase, driving the Q1 industrial investment by 16.1 percentage points. Investment in manufacturing and high-tech industries went up by 25.3 percent and 28.2 percent, respectively.
Moreover, Changzhou has made unremitting efforts to continuously improve residents' livelihood, maintain social equity, and enhance their health and well-being.
During the January-to-March period, Changzhou’s per-capita disposable income stood at 18,679 yuan, 5.7 percent higher than the first quarter of 2021. The quarterly disposable income per capita for urban residents increased by 5.3 percent year on year to 20,814 yuan, while that for rural residents rose by 6.6 percent to 13,635 yuan.
The first-quarter expenditures for improving people’s livelihood amounted to 15.14 billion yuan, accounting for 74.3 percent of Changzhou’s general public budget expenditure, and that for education, health, technology, and education increased by 33.2 percent, 29.3 percent, 19.0 percent, and 18.1 percent, respectively.
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