Jining experiences stable economic growth in 2023

Jining, a city in China's Shandong province, registered stable economic growth in 2023, official statistics showed.

From January to November 2023, the city's added value of industries above designated size increased by 10.2 percent year-on-year. Its fixed asset investment increased by 7.1 percent, driven significantly by large projects. The number of projects with planned investment above 1 billion yuan ($140.14 million) in the city was 247, up 6.9 percent year-on-year.

The service industry in the city also grew steadily. From January to October 2023, the service industry above designated size achieved an operating income of 43.93 billion yuan, a year-on-year increase of 9 percent. The supporting role of the modern logistics industry was obvious, with the operating income of the transportation, warehousing and postal industries above designated size increasing by 10.4 percent.

Market demand continued to improve. From January to November 2023, retail sales of consumer goods increased by 10.4 percent.

Activity in the financial market remained steady. As of the end of November, domestic and foreign currency deposits of financial institutions totaled 85.93 billion yuan, an increase of 52.33 billion yuan from the beginning of 2023. The balance of domestic and foreign currency loans of financial institutions was 72.77 billion yuan, an increase of 86.66 billion yuan or 12.4 percent from the beginning of the year.