Nantong's GDP grows 7.2% in first quarter

Expressways in Nantong. [Photo/ntjoy]

Nantong's gross domestic product (GDP) exceeded 298.2 billion yuan ($41.16 billion) in the first quarter of 2024, up 7.2 percent year-on-year, local authorities revealed.

The city's agricultural production was stable with abundant supply in the first three months of this year. The added value of its agriculture, forestry, animal husbandry and fisheries amounted to 8.36 billion yuan, up 3.7 percent from the previous year.

Industrial production in Nantong flourished, supported by private sectors in the Jan-March period. The added value of industries above designated size expanded by 11.3 percent year-on-year. The output value generated by private enterprises above designated size accounted for 67.6 percent of the total output in the city.

The service industry also boasted a strong start in the first quarter of this year with an expanded productive service sector. From January to February, the service industry above designated size yielded 22.04 billion yuan in operating revenue, a year-on-year increase of 7.8 percent.

Nantong's investment in fixed assets and total retail sales of consumer goods continued to rise during the same period, with year-on-year increases standing at 5.1 percent and 1.9 percent, respectively.

From January to March, the per capita disposable income of residents in Nantong reached 17,316 yuan, up 5.2 percent year-on-year. The per capita disposable income of the urban and rural residents registered 4.4 percent and 6.6 percent increases from previous year to 20,147 yuan and 12,304 yuan.