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The 3rd plenary session of the 9th Municipal People's Congress of Jiaxing commences on Feb 27. [Photo/jiaxingren.com]

The 3rd plenary session of the 9th Municipal People's Congress of Jiaxing commenced on Feb 27.

According to the government report delivered by Li Jun, mayor of Jiaxing, the city's economy experienced stable growth in the past year.

The city's gross regional product (GDP) reached 673.95 billion yuan ($97.18 billion), and the total fiscal revenue and general public budget revenue amounted to 103 billion yuan and 59.6 billion yuan, respectively.

Jiaxing took the lead in carrying out the digital and green transformation of the manufacturing industry in Zhejiang province, receiving 93.36 billion yuan in investment in its manufacturing industry.

The city strived to implement tax rebate policies over the past year, issuing a total of 22.96 billion yuan in subsidies, the third highest in the province, which reduced financial burdens for companies by 33.35 billion yuan.

To stimulate consumption in the city, a total of 540 million yuan in coupons were issued.

Meanwhile, the city focused on improving its urban functions, and construction started on the Nantong-Suzhou-Jiaxing-Ningbo High-speed Railway, Jiaxing Airport, Shanghai-Pinghu-Haiyan Intercity Railway and four express roads to counties and county-level cities.

In addition, to promote urban renewal, the city completed the renovation of 1.21 million square meters of old residential areas, benefiting 11,400 households.