In the inaugural year of the new five-year plan, Jiaxing's economy achieved a strong start, leading the province in growth rate during the first quarter. According to calculations, the city's gross domestic product (GDP) reached 195.67 billion yuan for the quarter, representing a year-on-year increase of 7.2% when calculated at constant prices. This growth rate surpasses the national average of 5.0% and the provincial average of 6.0%, securing the top position within the province.
The first quarter's performance is a critical indicator for the year and the entire plan period. The 7.2% year-on-year growth, leading the province, is not just the first report card for Jiaxing's economy in the new plan but also demonstrates a vigorous and competitive beginning for the new five-year period.
Against a backdrop of a challenging global economic recovery and a significant increase in external instabilities and uncertainties, how has Jiaxing managed to lead the province in economic growth?
Behind the 7.2% growth lies steadfast resilience. Despite tensions in the Middle East, volatile international oil prices disrupting global energy supply chains, disordering international logistics, and raising manufacturing costs, Jiaxing's economy has responded with determination and proactivity. The "troika" of economic drivers—investment, consumption, and exports—advanced in tandem with solid progress. In the first quarter, the city's fixed asset investment reached 82.045 billion yuan, growing at a rate higher than the provincial average, with 44.7% directed towards manufacturing, which saw a 13.0% increase. Container throughput at Jiaxing Port grew by 19.6%, ranking second among the province's coastal ports, with foreign trade container throughput surging 34.09% year-on-year. Retail sales of consumer goods in the city rose by 7.0%, the highest in the province, with online retail sales via public networks jumping 46.4%. These figures indicate a powerful start and positive momentum for the city's economy in the first quarter, further highlighting its resilience and vitality, thereby boosting confidence in the economic recovery.
Behind the 7.2% growth lies unwavering tenacity. Jiaxing has recently introduced multiple measures, including the "8+4" policy package to support foreign trade companies in expanding their markets, the "One-Ten-Hundred-Thousand" plan to accelerate the attraction and cultivation of high-quality enterprises, and the "Twenty Articles" for optimizing the business environment to foster high-quality development of market entities. By steadfastly promoting the continued vitality of the private economy, these initiatives have strengthened the foundation for stability, enhanced the momentum for advancement, and continuously improved the quality of the city's economy. In the first quarter, the value-added of industrial enterprises above the designated size increased by 10.1% year-on-year, with nearly 80% of the 32 major industrial categories showing growth. Emerging industries such as high-tech manufacturing, high-end equipment manufacturing, the core manufacturing sector of the digital economy, and equipment manufacturing all grew faster than the average. The value-added of the service industry rose by 6.9% year-on-year, ranking second in the province. Private investment grew by 4.0%, an acceleration of 16.8 percentage points compared to the same period last year. The quantity of growth reflects the quality of development, as Jiaxing's emerging industries rapidly rise and new quality productive forces accelerate, driving the continuous transformation of Jiaxing's manufacturing towards higher-end, smarter, and greener production.
Behind the 7.2% growth lies relentless hard work and a down-to-earth attitude. Emphasizing action to achieve results for the people, Jiaxing held its "First Meeting of the New Year" under the theme of "Striving for Excellence through Six Key Focus Areas," sending a clear signal of starting at a sprint. By integrating this work ethic into every specific task, Party members and cadres have focused on improving efficiency by addressing needs and strengthening guarantees through precise policies, contributing to the strong first-quarter performance with tangible results in serving enterprises and projects. While the economy gained momentum, the incomes of Jiaxing residents also increased. In the first quarter, the per capita disposable income of urban residents reached 25,495 yuan, a 3.7% year-on-year increase, while the per capita disposable income of rural residents was 18,891 yuan, up 5.4% year-on-year.
More encouragingly, the urban-rural income ratio further narrowed to 1.35:1, enhancing the value of Jiaxing's reputation as a model for urban-rural integration. Success is man-made; by countering external uncertainties with the certainty of high-quality development, Jiaxing has not only stabilized its overall economy but also stabilized market expectations and boosted development confidence.
The more critical the starting point, the steadier the steps must be. While the current external environment is increasingly complex and severe, and uncertainties in economic operations are rising, the second quarter is a crucial period for advancing, implementing, and achieving breakthroughs, key to fulfilling the annual targets. The entire city must make every effort to consolidate and expand the positive economic momentum, adhere to the general principle of seeking progress while maintaining stability, and focus on stabilizing employment, enterprises, markets, and expectations, striving to translate the strong start into sustained success throughout the year.
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