The second meeting of the 16th People's Congress of Wuxi City was held. The mayor Wang Quan pointed out in his government work report that the city's gross domestic product is expected to reach 1,050 billion yuan in 2017, which will increase by 7.4%.
Wang Quan said that the 7.4% growth rate is Wuxi’s first time surpassing the provincial average for the past five years, which indicates that Wuxi’s economic development has achieved a historic leap, and the urban energy level and overall strength have been significantly enhanced.
Li Xiaomin, a member of the Standing Committee of Jiangsu Provincial Party Committee and Secretary of the Wuxi Municipal Party Committee, pointed out that for a city, GDP is worth trillions of yuan, which is an important manifestation of the level of economic development and comprehensive economic strength. The important symbol of urban status and energy level is to boost the cadres and people in the city. The important driving force of confidence.
At this point, Jiangsu has surpassed trillions of economic aggregates in the three cities of Suzhou, Nanjing, and Wuxi. However, the breakdown of Wuxi’s total economic output constitutes 50% of the cities under the jurisdiction of Jiangyin and Yixing.
The outbreak of blue-green algae in Taihu Lake in 2008 prompted Wuxi to reflect on the inadequacy of the existing "Southern Jiangsu model." In the new round of seizing the development of high-tech industries, Wuxi took the lead in the development of the photovoltaic and Internet of Things industries, with a strong momentum of transformation.
Jiangsu Academy of Social Sciences scholars analyzed 21st Century Business Herald reporters that Wuxi is not a sub-provincial city and that the “contribution†of real estate is not high relative to Suzhou and Nanjing. Therefore, the gold content of Wuxi’s trillion GDP is higher and “more worthy of attentionâ€. It also shows that Wuxi's economic structure is better. In 2018, Wuxi set a target of 7-7.5% of GDP growth.
According to the adjustment of the China National Economic Accounting System (2016), after implementing the reform of the R&D expenditure accounting method, the GDP of Jiangsu in 2016 increased by 130.211 billion yuan, and the total GDP was revised to 7.738828 billion yuan.
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