Nantong sees stable economic growth in Jan-Aug

An offshore wind farm in Nantong. [Photo provided to en.nantong.gov.cn]

Nantong in Jiangsu province experienced stable economic growth in the first eight months of this year, according to the latest report from local municipal bureau of statistics.

During the Jan-Aug period, there was a 9.8 percent year-on-year increase in the added value of industries above the designated size in Nantong. Additionally, the added value of private industries above designated size expanded by 9.9 percent from previous year.

The operating revenue of service industries above the designated size in the city totaled 66.3 billion yuan ($9.43 billion) in the first seven months of this year, up 2.2 percent year-on-year.

In the first eight months of this year, Nantong's fixed asset investment climbed 1.4 percent from last year, and the city has been home to 1,573 projects, with an investment of over 100 million yuan each.

The total retail sales of consumer goods in Nantong amounted to 281.48 billion yuan during the same period, a year-on-year increase of 0.9 percent.

By the end of August, the balance of local and foreign currency deposits in financial institutions in Nantong reached 2.18 trillion yuan, up 6.2 percent year-on-year, while the balance of local and foreign currency loans surged 12.1 percent year-on-year to approximately 2 trillion yuan.