Economic recovery continues in Nantong

A rail traffic project is under construct in Nantong. [Photo/Nantong Daily]

Nantong in East China's Jiangsu province saw a robust economic recovery in the first 11 months of this year, as reported by the Nantong statistics bureau.

The added value of industries above a designated size in the city jumped 8.6 percent year-on-year in the Jan-Nov period.

Breaking down the figures, the output value of the city's six major industrial clusters experienced substantial growth compared to the same period last year: high-end textiles (19.4 percent growth), shipbuilding (17.4 percent), new materials (15.2 percent), new energy (4.1 percent), high-end equipment (3.4 percent), and new-generation information technology (2.1 percent).

Nantong's service industry enterprises above the designated size generated 94.81 billion yuan ($13.28 billion) in operating revenue in the first 11 months of the year, marking a year-on-year increase of 4.1 percent.

The total retail sales of consumer goods in Nantong reached 386.94 billion yuan from January to November, reflecting a 6.4 percent year-on-year increase.

The city's fixed-asset investment increased 2.1 percent year-on-year in the Jan-Nov period. Specifically, investment in infrastructure and manufacturing industry expanded by 7.5 percent and 1.8 percent year-on-year, while real estate investment declined 4.3 percent compared to the same period last year.

Currently, Nantong has 788 projects valued at over 500 million yuan under construction, indicating a growth of 41 projects compared to the previous year.