Jiangsu Province reports mixed economic data: industrial output up 6.5%, investment down 11.0%
On September 22, 2024, the Jiangsu Provincial Bureau of Statistics released economic data for the first eight months of the year, showing industrial output above designated size grew 6.5% year-on-year, while fixed asset investment fell 11.0%. Retail sales of consumer goods rose only 1.0% to 3,129.94 billion yuan. Real estate development investment plunged 25.4%, but equipment and tool purchases increased 13.8%. Consumer prices rose 1.0% year-on-year.
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Jiangsu Province Retail Sales Rise 1.0% Year-on-Year in First Eight Months of 2024
According to a report from the Jiangsu Provincial Bureau of Statistics released on September 22, the total retail sales of consumer goods in Jiangsu Province reached 3,129.94 billion yuan from January to August 2024, representing a year-on-year increase of 1.0%. The data, reported by financial news outlet Cailianshe, also provided a breakdown for the month of August. In August alone, retail sales of communication equipment and supplies surged 44.7% compared to the same period last year. Cultural and office supplies saw a 41.8% increase, while cosmetics grew by 7.9%. Within the communication equipment category, computer and related products experienced a remarkable 78.2% jump in retail sales, and smartphone sales rose by 52.2% year-on-year. The report highlights a significant consumer demand for technology and office-related products in the province during the period.
Read sourceJiangsu Province's Industrial Output Rises 6.5% in First Eight Months of 2024
According to data released by the Jiangsu Provincial Bureau of Statistics on September 22, 2024, the province's industrial output above a designated size grew by 6.5% year-on-year during the January-August period. For the month of August alone, industrial output increased by 5.7% compared to the same period last year. Several key manufacturing sectors showed strong performance in August: pharmaceutical manufacturing grew 13.8%, special equipment manufacturing rose 13.0%, automobile manufacturing increased 11.1%, and computer, communication, and other electronic equipment manufacturing expanded 10.9%. The data, reported by financial information provider Jin10, indicates steady industrial growth in one of China's major economic provinces.
Read sourceJiangsu Province Fixed Asset Investment Falls 11.0% in First Eight Months of 2024
According to data released by the Jiangsu Provincial Bureau of Statistics on September 22, 2024, fixed asset investment in Jiangsu Province fell by 11.0% year-on-year during the January-August period. The decline was broad-based across major sectors. Infrastructure investment decreased by 8.4%, manufacturing investment dropped by 1.6%, and real estate development investment saw a sharp decline of 25.4%. In contrast, investment in equipment and tool purchases, driven by large-scale equipment renewal initiatives, rose by 13.8% year-on-year over the same period. The report, published by financial news outlet 财联社 (cls), highlights ongoing weakness in the provincial economy, particularly in the real estate sector, while noting a positive trend in industrial upgrading through equipment investment.
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Jiangsu Province's Industrial Output Rises 6.5% in First Eight Months of 2024
According to data released by the Jiangsu Provincial Bureau of Statistics on September 22, the province's industrial output above a designated size grew by 6.5% year-on-year in the first eight months of 2024. In August alone, the growth rate was 5.7%. Several key manufacturing sectors posted strong double-digit gains: pharmaceutical manufacturing rose 13.8%, special equipment manufacturing increased 13.0%, automobile manufacturing grew 11.1%, and computer, communication, and other electronic equipment manufacturing expanded 10.9%. The report provides a snapshot of industrial activity in Jiangsu, a major manufacturing hub in eastern China, indicating sustained expansion across multiple high-value industries.
Read sourceJiangsu Province Reports Mixed Economic Data for January-August 2024
On September 22, 2024, the Jiangsu Provincial Bureau of Statistics released economic data for the first eight months of the year, showing a mixed performance across sectors. Industrial production grew steadily, with the value-added output of large-scale industries rising 6.5% year-on-year. In August, specific manufacturing sectors such as pharmaceuticals (13.8%), special equipment (13.0%), automobiles (11.1%), and electronics (10.9%) posted strong gains. Service sector revenue for January-July increased 7.4%, driven by an 8.7% rise in producer services. However, fixed asset investment fell sharply by 11.0%, led by a 25.4% decline in real estate development and an 8.4% drop in infrastructure investment. Manufacturing investment also dipped 1.6%. Consumer spending remained sluggish, with total retail sales of consumer goods rising only 1.0% to 3.13 trillion yuan, though August saw strong sales of communication equipment (44.7%) and office supplies (41.8%). Financial data showed bank deposits up 7.6% and loans up 8.6%. Consumer prices rose 1.0% year-on-year for the period, while producer prices increased 0.4% for output and 2.2% for input costs.
Jiangsu Province Industrial Output Up 6.5% in First Eight Months of 2024
According to data released by the Jiangsu Provincial Bureau of Statistics on September 22, the province's industrial output above a designated size grew by 6.5% year-on-year in the first eight months of 2024. In August alone, the growth rate was 5.7%. Several manufacturing sectors posted strong gains: pharmaceutical manufacturing rose 13.8%, special equipment manufacturing increased 13.0%, automobile manufacturing grew 11.1%, and computer, communication, and other electronic equipment manufacturing rose 10.9%. The report, sourced from People's Financial News and republished by stockstar_securities_news, provides a snapshot of Jiangsu's industrial performance during the period.
Read sourceJiangsu Province Fixed Asset Investment Falls 11.0% in First Eight Months of 2024
According to data released by the Jiangsu Provincial Bureau of Statistics on September 22, 2024, the province's fixed asset investment from January to August 2024 decreased by 11.0% year-on-year. Breaking down the major sectors, infrastructure investment fell by 8.4%, manufacturing investment declined by 1.6%, and real estate development investment saw a sharp drop of 25.4%. In contrast, investment in equipment and tool purchases, driven by large-scale equipment renewal initiatives, increased by 13.8% during the same period. The report, published by People's Financial Information and cited by stockstar_securities_news, highlights a significant contraction in overall investment activity in Jiangsu, particularly in the real estate sector, while equipment upgrades provided a partial offset.
Read sourceJiangsu Province Retail Sales Rise 1.0% Year-on-Year in First Eight Months of 2024
According to a report from People's Financial News on September 22, citing data from the Jiangsu Provincial Bureau of Statistics, the province's total retail sales of consumer goods reached 3,129.94 billion yuan in the first eight months of 2024, representing a year-on-year increase of 1.0%. In August alone, retail sales of specific categories saw significant growth: communication equipment and related items rose 44.7%, cultural and office supplies increased 41.8%, and cosmetics grew 7.9%. Within these categories, sales of computers and their supporting products surged 78.2%, while smartphone retail sales jumped 52.2%. The data indicates robust consumer demand for electronics and office supplies in Jiangsu, a major economic hub in eastern China.
Read sourceJiangsu Province's Industrial Output Grows 6.5% in First Eight Months of 2024
According to data released by the Jiangsu Provincial Bureau of Statistics, the province's industrial output above a designated size grew by 6.5% year-on-year during the first eight months of 2024. For the month of August alone, industrial output increased by 5.7% compared to the same period last year. Several key manufacturing sectors posted strong double-digit growth in August: pharmaceutical manufacturing rose 13.8%, special equipment manufacturing increased 13.0%, automobile manufacturing grew 11.1%, and computer, communication, and other electronic equipment manufacturing expanded by 10.9%. The data reflects continued industrial expansion in one of China's major economic provinces.
Read sourceJiangsu's Financial Institutions' RMB Deposits Reach 28.8 Trillion Yuan, Up 7.6% in August
According to a report from the Jiangsu Provincial Bureau of Statistics on the province's economic performance from January to August 2024, as of the end of August, the balance of RMB deposits held by financial institutions in Jiangsu province reached 28.8 trillion yuan, representing a year-on-year increase of 7.6%. Concurrently, the balance of RMB loans stood at 30.3 trillion yuan, up 8.6% compared to the same period last year. These figures, released by the People's Daily Finance channel on September 22, indicate continued growth in the province's banking sector and credit activity.
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