Wuxi sees 3.8% GDP growth in Q1

An aerial view of Wuxi. [Photo/WeChat account: wuxidaily]

The GDP of Wuxi in East China's Jiangsu province grew 3.8 percent year-on-year in the first quarter of 2022, reaching 323.697 billion yuan ($48.895 billion), according to the municipal statistical bureau.

The added values of the city's primary, secondary and tertiary industries in the first quarter were 1.893 billion yuan, 150.233 billion yuan and 171.571 billion yuan, respectively.

The output of the digital product sector continued to grow, with that of integrated circuit wafers, computers, and microcomputers increasing by 10.2 percent, 17 percent and 17.6 percent on a yearly basis.

Over the period, Wuxi's fixed asset investment went up 2.1 percent year-on-year while its investment in infrastructure expanded by 45 percent year-on-year.

Investment in intelligent manufacturing, internet of things, emerging industries, and high-tech industries in the city increased 16.1 percent, 7.8 percent, 6.8 percent and 6.5 percent year-on-year respectively from January to March.

In the first quarter of this year, the actual utilization of foreign investment in the city totaled $1.291 billion, a year-on-year increase of 42.1 percent and ranking third in the province. Most foreign investment came from offshore financial centers, the US, and Singapore.

From January to March, the per capita disposal income of local residents totaled 20,793 yuan, a year-on-year increase of 6.4 percent. The per capita disposal income of urban and rural residents grew by 6 percent and 7.2 percent respectively to 21,992 yuan and 17,038 yuan.