Daily Times

The gross domestic product (GDP) of east China’s Jiangsu Province grew by 4.7 percent year on year in the first quarter of 2023, exceeding 2.9 trillion yuan (about 419.7 billion U.S. dollars), according to the provincial statistical bureau. The added values of Jiangsu’s primary, secondary, and tertiary industries in the first quarter were 63.4 billion yuan, 1.25 trillion yuan, and 1.6 trillion yuan, respectively, up 3 percent, 4.5 percent, and 5 percent year on year. Over the period, Jiangsu’s fixed-asset investment went up 5 percent year on year. Industrial investment and infrastructure investment increased by 8.3 percent and 8.7 percent year on year, respectively. Driven by an array of measures to boost consumption, Jiangsu also saw its total retail sales of consumer goods reach 1.17 billion yuan, up 7.8 percent year on year over the first three months, with the catering sector growing by 16.2 percent.