According to Jiangsu Provincial Statistics Administration, Jiangsu’s economy continued to operate steadily from January to May, and the momentum for recovery was obviously enhanced. Major economic indicators such as industry, investment and consumption maintained steady and restorative growth.
In terms of industrial production, most industries in Jiangsu maintained fast growth. From January to May, the added value of industries above a certain designated scale in Jiangsu increased by 23.8% year-on-year, with an average growth rate of 10.9% in recent two years, 5.7 % higher than that in the same period of 2019. In terms of industries, from January to May, the growth rates of added value of ten key industries were above 15%, and the growth rates of electrical, automobile, special equipment, general equipment and metal products manufacturing industries all exceeded 30%. The output of new products increased rapidly. In May, the output of new energy vehicles, rare earth magnetic materials, integrated circuits, urban rail vehicles, carbon fiber and related composite materials increased by 261.2%, 179%, 50.4%, 44.1% and 40.6%, respectively.
Source: World Trade Times