Jiaxing's economy grows 6.3% in 2023
Jiaxing in Zhejiang province reported robust economic performance in 2023, with its gross domestic product (GDP) reaching 706.25 billion yuan ($98.62 billion), 6.3 percent more than the previous year.
In 2023, the total output value of the city's agriculture, forestry, animal husbandry, and fishery industries amounted to 24.82 billion yuan, marking a year-on-year growth of 3.9 percent.
Jiaxing also achieved another record-breaking year in grain production, with the planting area reaching 154,667 hectares and annual grain output reaching 1.003 million metric tons. Both numbers secured the top position for the 18th consecutive year in Zhejiang.
Among the 33 major industrial categories, 22 industries recorded positive growth in added value. The electromechanical, automobile manufacturing, and chemical industries experienced significant increases, with growth rates of 42.3 percent, 22.6 percent, and 12.1 percent, respectively.
The service industry showed steady recovery, with hospitality, transportation, warehousing, postal services, wholesale and retail experiencing notable growth. Modern service sectors, including finance, information transmission, software, and information technology services, demonstrated strong momentum, with added values growing by 10.1 percent and 8.4 percent, respectively.
Manufacturing sector investments reached 104.13 billion yuan, indicating a growth of 11.5 percent, surpassing the city's overall investment by 4.1 percentage points and accounting for 33.1 percent of fixed asset investment.
The total retail sales of consumer goods in Jiaxing reached 251.35 billion yuan in 2023, marking a 7.3 percent increase from the previous year.
The disposable income of Jiaxing residents also experienced strong growth. The per capita disposable income for residents reached 66,353 yuan, a 6.0 percent increase from 2022. Specifically, urban residents saw 5.3-percent growth, with their per capita disposable income reaching 75,909 yuan, while rural residents experienced a substantial 7.3-percent increase, reaching 49,643 yuan.
