Home > Latest

Wuxi's economy shows stable growth in 2022

Updated : 2022-12-30
(en.wuxi.gov.cn)

640.jpg

An aerial view of Wuxi. [Photo/Wuxi Daily]

The economy of Wuxi in East China's Jiangsu province has shown stable growth over the past year despite a global economic downturn and the COVID-19 epidemic, local media reported on Dec 29.

In the first 11 months of the year, the output of industries above designated size in the city reached about 2.16 trillion yuan ($310.14 billion), up 9.4 percent year-on-year, while imports and exports totaled 676.63 billion yuan, a year-on-year increase of 10 percent.

640 (1).jpg

An aerial view of Wuxi. [Photo/Wuxi Daily]

The actual utilization of foreign capital in Wuxi was $3.68 billion in the Jan-Nov period, up 15.4 percent year-on-year and ranking third in Jiangsu.

From January to November, the output of strategic and emerging industries above designated size grew 12 percent year-on-year and accounted for 42.9 percent of the city's total.

Wuxi authorities have since this year further streamlined administrative approval to help accelerate the construction of new projects, with 47 projects having benefited from such practices this year.

640.png

An intelligent workshop in Wuxi. [Photo/Wuxi Daily]

Local businesses have also sped up overseas expansion. CITIC Pacific Special Steel Group Co Ltd made full use of the Regional Comprehensive Economic Partnership agreement to set up branches in South Korea and Germany; Jiangsu Lettall Electronic Co Ltd increased investment in Mexico and Vietnam; and WEIFU Group purchased Italian auto parts manufacturer VHIT.

The contracted foreign investment by Wuxi businesses amounted to $3.98 billion in the first 11 months of the year, a sharp rise of 223.8 percent year-on-year and ranking first in the province.


8.03K
Videos
 
微信图片_20240315092407.jpg

Huishan clay figurines appear in Yuantouzhu

3.jpg

Wuxi blossoms into cherry flower wonderland

微信图片_20240112134405.jpg

Black carp harvest marks start of Spring Festival celebrations in Wuxi

640 (3).jpg

2024 Wuxi marathon to be held on March 24

News
Sports
Videos
Photos
Business
Biz Updates
Industries
Development Zones
Companies
Travel
Attractions
Dining
Accommodation
Shopping
Entertainment
Transportation
Maps
Culture
Culture News
Heritage
Museums
Events
Services
Visa
Marriage
Healthcare
Jobs
Education
Useful Info
Government
Mayor
Departments
Districts
Policies
About
Overview
Statistics
Sister Cities
E-books
Copyright © China Daily. All rights reserved.
The Information Office of Wuxi Municipal People's Government.
Presented by China Daily.
备案号:京ICP备13028878号-34