Nantong's GDP up 2% in H1

Nantong, a city in East China's Jiangsu province, managed to overcome the impact of the COVID-19 epidemic in the first half of this year and has shown a steady economic rebound, local media reported.

According to local authorities, the city's regional gross domestic product (GDP) expanded 2 percent year-on-year to 466.44 billion yuan ($67.59 billion) in the first half of this year.

The value-added output of the secondary industry rose by 1 percent year-on-year to 220.23 billion yuan, while the tertiary industry witnessed a 3.3 percent year-on-year growth to 228.71 billion yuan.

Per capita disposable income increased 3.3 percent year-on-year, with that of urban and rural residents growing 2.5 percent and 3.9 percent, respectively.

Among companies above the designated size (those with annual revenue of 20 million yuan and above), the output value of those involved in emerging industries rose 7.2 percent year-on-year and accounted for 34.6 percent of all such companies.

Exports of high-tech products saw year-on-year growth of 15.3, 10.2 percentage points higher than in the same period last year and accounting for 15.8 percent of the city's total exports.

Investment in projects costing more than 100 million yuan rose 5 percent year-on-year and accounted for 80.9 percent of all new investments in the city.

A total of 56,743 new market entities were registered, including 683 above the designated size.