Changzhou's gross domestic product (GDP) increased by 6.8 percent year on year, reaching a new milestone of 1.01164 trillion yuan last year, according to the Municipal Bureau of Statistics. This positions Changzhou as the fifth city in Jiangsu province, following Suzhou, Nanjing, Wuxi, and Nantong, to join the trillion-yuan club.
The value-added output in the primary, secondary, and tertiary sectors of the economy rose by 3.2 percent, 7.1 percent, and 6.6 percent, respectively, compared to the previous year.
In the new energy sector, the manufacturing output totaled 768.07 billion yuan, reflecting a significant growth of 15.0 percent. Notably, the output value of new energy vehicles, new types of electric power equipment, and the photovoltaic industry increased by 126.6 percent, 11.0 percent, and 6.1 percent, respectively. Exports of "new three" products, such as electric vehicles, lithium-ion batteries, and solar cells, grew by 12.3 percent.
The data also highlights a 2.5 percent increase in annual fixed asset investment compared to the previous year, with investments in projects exceeding one billion yuan growing by 7.4 percent.
Further data indicates that in 2023, the per capita disposable income of residents in Changzhou increased by 5.2 percent compared to the previous year, reaching 62,592 yuan. The per capita disposable income of urban residents was 71,744 yuan, reflecting a growth of 4.6 percent, while the per capita disposable income of rural residents was 40,401 yuan, showing an increase of 6.7 percent. The total annual general public budget expenditure was 86.48 billion yuan, with 77 percent allocated to improve people's livelihood.
A spokesperson from the Municipal Bureau of Statistics commented, "The city's economy has demonstrated strong resilience and potential, achieving a substantial leap in comprehensive competitiveness, resource aggregation, regional radiation, and development influence." Having reached the trillion-yuan milestone, Changzhou will forge ahead with renewed vigor, continuing its ascent.
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