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Last updated at: (Beijing Time) Thursday, December 19, 2002

Jiangsu's GDP to Exceed 1 Trillion Yuan for First Time

The gross domestic product (GDP) of east China's Jiangsu Province is expected to exceed 1 trillion yuan (about 120.5 billion US dollars) this year.


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The gross domestic product (GDP) of east China's Jiangsu Province is expected to exceed 1 trillion yuan (about 120.5 billion US dollars) this year.

Liang Baohua, acting governor of Jiangsu, said Wednesday at the on-going provincial economic work meeting that all of the province's economic indices have reached the highest level in recent yearsand that its GDP will reach a record high this year.

Liang said that during the year, the provincial government had taken an active part in expanding domestic demand. The demand of investment and consumption had seen marked respective increases.

It is expected that the province's fixed asset investments will reach 384.8 billion yuan this year, up 16.5 percent from the previous year.

Foreign trade continues to grow rapidly. The total trade volume of the province exceeded 69 billion US dollars this year.

During the period, the province attracted 10 billion US dollars in foreign direct investment, a figure representing a 70 percent increase over the previous year and accounting for nearly 20 percent of the country's total FDI.

The province's private sector developed well during the year. As of the end of November, a total of 284,000 private enterprises had registered in the province, more than in any other province in the country.

Nearly 390,000 lay-offs in the province have been re-employed, bringing its re-employment rate up to 60 percent this year.


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