Nantong's GDP breaks 1 trillion yuan in 2020

Nantong's regional gross domestic product broke the 1-trillion-yuan ($145 billion) threshold in 2020, up 4.7 percent year-on-year and ranking fourth in Jiangsu province, behind Suzhou, Nanjing, and Wuxi, according to the government work report at the fifth session of the 15th Nantong People's Congress on Jan 19.

The general public budget revenue increased 3.2 percent to 63.93 billion yuan over the last year. Meanwhile, the investment in fixed asset increased 5.8 percent. The retail sales of social consumer goods increased 0.3 percent. Imports and exports rose 4.3 percent.

The per capita disposable income for urban and rural residents increased 4.5 and 7.6 percent respectively to 52,484 yuan and 26,141 yuan, while the consumer price index was up 2.4 percent.

Looking ahead, Nantong will work to boost innovation and real economy, further deepen reform and opening-up, enhance urban development, promote rural rejuvenation, strengthen environmental protection, improve people's quality of life, and ensure work safety.

The city is aiming to achieve at least a 6.5 percent growth in GDP, a 5 percent growth in general public budget revenue, a 6 percent growth in investment of fixed asset, a 7 percent growth in retail sales of social consumer goods, and a 5 percent growth in foreign trade.

The incomes of urban and rural residents are expected to grow with the economy, while more than 110,000 jobs will be created and the unemployment rate will be controlled under 3 percent.