SND's GDP expected to grow by 5% in 2023

A bird's-eye view of SND. [Photo/WeChat account: snd-szgxqfb]

The GDP of Suzhou New District in Jiangsu province is expected to increase 5 percent year-on-year to 183.5 billion yuan ($25.61) in 2023, according to the district's annual government report.

SND's robust economic strength is evidenced by last year's addition of 270 high-quality industrial projects, foreign trade volume reaching 250 billion yuan, and total retail sales of consumer goods amounting to 67.5 billion yuan.

Innovation-driven development stood out in the district last year as it attracted more than 1,500 innovation enterprises. Additionally, 321 companies were recognized as national high-tech businesses, 37 companies as "unicorns," 36 firms qualified as national "little giants", and five establishments went public.

Further advancements in SND's industrial systems were acknowledged by the high-end measurement and control instrument and equipment industry inclusion on the list of innovation industrial clusters in Jiangsu. The district successfully completed 425 intelligent transformation projects in 2023.

Urban-rural integrated development was also enhanced in the district through the renovation of 10 old residential communities and the establishment of 11,200 mu (746.67 hectares) of high-quality farm fields.

Focusing on the well-being of local residents, SND created 13,000 new jobs, provided vocational skills training for 19,000 people, and opened nine new schools.

The government report also outlines ambitious goals for this year, stating that the district aims for over 5 percent and 6.5 percent year-on-year growths in GDP and total retail sales of consumer goods, respectively.