Five “trillion yuan cities” released GDP forecast for 2024

The five cities in Jiangsu with a GDP exceeding 1 trillion yuan－Nanjing, Wuxi, Changzhou, Suzhou, and Nantong－have announced their projected GDP growth for 2024. Nantong is expected to lead with a growth rate of around 6.3%, followed by Suzhou and Changzhou at approximately 6%.

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Nantong forecasts a 6.3% growth in regional GDP for 2024, with general public budget revenue increasing by 3%, and urban per capita disposable income projected at 65,000 yuan.

Changzhou's GDP grew steadily in 2024, from 5.0% in Q1, to 5.6% in H1, and 5.8% by the end of Q3. For 2024, a regional GDP growth of around 6% is expected, with a budget revenue growth of 2.6%.

Wuxi achieved a GDP of 1.62 trillion yuan last year, with a growth rate of around 5.8%. Notably, its fixed-asset investment and foreign trade reached new highs.

Nanjing estimates a GDP growth of about 4.5% for 2024. Suzhou anticipates a growth rate of about 6% with a GDP of 2.67 trillion yuan and a 9% increase in its gross industrial output value of enterprises above designated size, which is expected to reach 4.69 trillion yuan.

Source: Jiangsu News