The second session of the 16th Wuxi Municipal People's Congress was recently convened. In his government work report, Mayor Wang Quan highlighted that Wuxi's gross domestic product (GDP) is projected to reach 1.05 trillion yuan in 2017, marking a growth rate of 7.4%. This performance marks a significant milestone, as it is the first time in five years that Wuxi has outpaced the provincial average, reflecting a historic leap in economic development and a notable enhancement in the city's overall strength and urban energy.
Li Xiaomin, a member of the Standing Committee of the Jiangsu Provincial Party Committee and Secretary of the Wuxi Municipal Party Committee, emphasized that reaching a GDP of 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.
At this point, three cities in Jiangsu—Suzhou, Nanjing, and Wuxi—have all surpassed the trillion-yuan economic threshold. However, a closer look at Wuxi’s total output reveals that nearly half of it comes from its affiliated counties, Jiangyin and Yixing. This distribution highlights the city's unique economic structure and regional influence.
The blue-green algae outbreak in Taihu Lake in 2008 prompted Wuxi to reassess the limitations of the traditional "Southern Jiangsu model." In response, the city has actively pursued high-tech industries, taking the lead in the development of photovoltaic and Internet of Things sectors. This strategic shift has shown strong momentum in transforming the city'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 considered higher, making it more deserving of attention. This suggests a stronger and more balanced economic structure.
In 2018, Wuxi set an ambitious target of achieving a GDP growth rate between 7% and 7.5%. Additionally, according to the 2016 revision of China's National Economic Accounting System, which introduced a new method for accounting for R&D expenditures, Jiangsu’s GDP for 2016 was adjusted upward by 13.021 billion yuan, bringing the total GDP to 7.738828 trillion yuan. This adjustment reflects a more accurate representation of the province’s economic performance.
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