Jiangsu reports growth momentum in industrial economy

The cities of Suzhou and Wuxi in Jiangsu province have continued to promote business-oriented innovation and brand promotion so as to have driven urban consumption growth and accelerated the transformation of old and new driving forces.

Sicreat (Suzhou) Semitech Co., Ltd., located in Suzhou Industrial Park, is operating at full speed, processing advanced semiconductor materials. With the launch of new products, the company has recorded a significant increase in order volume, and has introduced a batch of new equipment to meet production needs.

Xu Tianyuan, Manager of Factory Affairs Department at Sicreat (Suzhou) Semitech Co., Ltd., note that the electricity consumption serving these devices is actually quite large, and there should be a 15% increase from the same period of last year.

Electricity consumption is a barometer of economic operation. In the first half of this year, Suzhou recorded 60.95 billion kilowatt hours in industrial electricity consumption, a year-on-year increase of 6.91%, and the electricity consumption of the tertiary industry also increased significantly. As the number of electric vehicles continues to grow, the electricity consumption for charging and swapping services is also increasing. Statistics show that in the first half of 2024, the Yangchenghu service area recorded a charging capacity of 1.02 million kilowatt hours, a year-on-year increase of nearly 30%.

In the first half of this year, Suzhou recorded a total electricity consumption of 84.439 billion kilowatt hours, a year-on-year increase of 8.05%, and 4.184 billion kilowatt hours of electricity consumption in the tertiary industry, a year-on-year increase of 12.36%.

Since the beginning of this year, Wuxi has continued to promote brand introduction by strengthening the "first store economy", and creating more high-end consumption new scenes and experiences.

A Korean restaurant has opened its first store in Jiangsu 8 months ago by incorporating natural ingredients into traditional Korean cuisine, bringing a unique taste experience. To enhance the dining experience for diners, the restaurant has also set up on-site production of some dishes to increase the sense of interaction.

In the first half of this year, Wuxi introduced over one hundred high-quality first stores that cover areas such as catering, retail, children's parent-child, and entertainment. In the next step, Wuxi will continue to bring into play the driving role of policy support and market demand, strengthen the attraction, cultivation, and aggregation of high-quality brands at home and abroad, and lead the improvement of consumer quality by supporting debuts, premieres, competitions, and exhibitions.