The second session of the 16th Wuxi Municipal People's Congress recently took place, during which Mayor Wang Quan delivered the government work report. He highlighted that Wuxi's gross domestic product (GDP) is expected to reach 1.05 trillion yuan in 2017, marking a 7.4% year-on-year growth. This achievement marks a significant milestone for the city, as it represents the first time in five years that Wuxi has exceeded the provincial average, signaling a historic leap in economic development and a notable enhancement in urban vitality and overall strength.
Li Xiaomin, a member of the Standing Committee of the Jiangsu Provincial Party Committee and Secretary of the Wuxi Municipal Party Committee, emphasized that a GDP reaching trillions of yuan is a clear indicator of a city’s economic development level and comprehensive strength. He also noted that such achievements serve as a powerful motivation for local officials and residents, boosting confidence and driving further progress.
Jiangsu Province now has three cities—Suzhou, Nanjing, and Wuxi—that have surpassed the trillion-yuan GDP threshold. However, a closer look at Wuxi’s economic structure reveals that nearly half of its total output comes from the county-level cities of Jiangyin and Yixing. This highlights the importance of regional balance and the need for continued development across the entire city.
In 2008, the blue-green algae outbreak in Taihu Lake prompted Wuxi to reevaluate the limitations of the traditional "Southern Jiangsu model." In response, the city embraced a new era of high-tech industrial development, leading the way in sectors such as photovoltaics and the Internet of Things. This strategic shift has fueled a strong transformation in Wuxi’s economic landscape.
Experts from the Jiangsu Academy of Social Sciences, speaking to reporters from the 21st Century Business Herald, pointed out that although Wuxi is not a sub-provincial city, its real estate sector contributes less compared to Suzhou and Nanjing. As a result, the "gold content" of Wuxi’s trillion-yuan GDP is higher, making it more worthy of attention. This suggests a more balanced and resilient economic structure.
In 2018, Wuxi set an ambitious target of achieving a 7 to 7.5% GDP growth rate, reflecting the city’s continued focus on sustainable and high-quality development. Additionally, according to the revised China National Economic Accounting System (2016), after implementing changes in the accounting method for R&D expenditures, Jiangsu’s GDP in 2016 increased by 13.0211 billion yuan, bringing the total GDP to 7.738828 trillion yuan. This revision underscores the evolving nature of economic measurement and the importance of accurate data in policy-making.
YIWU JUHE TRADING COMPANY , https://www.nx-vapes.com