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​Jiaxing's service industry added value surpasses 68b yuan in Q1

chinadaily.com.cn| Updated : May 5, 2022

The added value of the service industry in Jiaxing, East China's Zhejiang province, amounted to 68.77 billion yuan ($10.21 billion) in the first quarter of 2022, an uptick of 2.5 percent year-on-year and boosting its GDP by 1.2 percentage points, according to the Jiaxing Municipal Commission of Development and Reform.

In the first quarter, the city's information transmission, software and information technology service industries maintained the rapid growth trend of the previous year. The revenue of 66 enterprises above designated size in related industries totaled 2.63 billion yuan, a year-on-year increase of 34 percent and ranking first in the province.

The top three administrative areas of the city in terms of added value growth in this period were Haining city, Haiyan county and Tongxiang city.

The growth rate of the added value of the service industry in Haining was 1.5 percentage points higher than that of the local GDP, while the added values in Tongxiang and Haining both exceeded 10 billion yuan by issuing consumer coupons and boosting production.

As of the end of March, 187 projects in the service industry had completed a total investment of 6.47 billion yuan, achieving 27.4 percent of the annual target.

To promote the reopening of the economy, in the first quarter of this year the Jiaxing Municipal Development and Reform Commission offered special subsidies of 33.41 million yuan to eligible service enterprises in the city.