Jiangyin leads Chinese counties in economic development

A bird's-eye view of Jiangyin. [Photo provided to wuxi.gov.cn]

Jiangyin, a county-level city in Wuxi, East China's Jiangsu province, was ranked first among Chinese counties in economic competitiveness, according to a recent report by economic think tank Zhongjun Research Institute.

Jiangyin shared first place with Kunshan in Suzhou.

The county currently is home to 2,462 industrial businesses above designated size and 61 listed companies.

A view of Jiangyin. [Photo provided to wuxi.gov.cn]

In the first three quarters of this year, the GDP of Jiangyin reached 340.20 billion yuan ($47.82 billion), up 5.7 percent year-on-year, the added value of industries above designated size totaled 111.89 billion yuan, a year-on-year increase of 8.2 percent, and the per capita disposable income of local residents amounted to 56,893 yuan, a 5 percent year-on-year increase.

The county has formulated a three-year action plan, eyeing emergence as a scientific innovation center for advanced manufacturing industry with national influence. Currently, it houses 26 and 482 related platforms at national and provincial level respectively.

A bird's-eye view of Jiangyin. [Photo provided to wuxi.gov.cn]

The private economy is also a Jiangyin highlight. This year, 14 of the county's businesses made the list of top 500 Chinese private companies, 13 were listed as top 500 Chinese private manufacturing companies, and one was named a top 100 Chinese private service company.

With strong manufacturing industry and complete supporting facilities, Jiangyin is attractive to foreign capital. To date, 27 global Fortune 500 companies and renowned multinationals have invested in the county and since this year it has attracted foreign investment worth more than $1 trillion.