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Suzhou's economic performance in 2023 first half

Suzhou Bureau of Commerce | Updated:2023-08-01 10:44

In the first half of 2023, Suzhou's regional GDP was 1.15 trillion yuan ($160.32 billion), a 4.7 percent year-on-year growth.

The primary industry increased by 6.71 billion yuan, a 3.8 percent growth; the secondary industry rose to 506.9 billion yuan, a 4.1 percent growth; and the tertiary industry surged to 632.23 billion yuan, a 5.2 percent growth.

The city's service industry grew by 5.2 percent in the first half, a 1.3 percentage point increase from the first quarter.

Suzhou's tourist arrivals soared by 132.3 percent, resulting in a 127 percent rise in total tourism revenue.

Total retail sales of consumer goods in the city amounted to 466.03 billion yuan, witnessing a 10.9 percent year-on-year growth. Retail sales in the accommodation and catering industry surged to 38.54 billion yuan, up 26.5 percent year-on-year.

There were 155,600 newly registered market entities in the first half, a 16.8 percent year-on-year increase, of which 53,600 were newly registered enterprises, a 10.0 percent increase. As of the end of June, the city was home to about 2.92 million market entities.

Foreign direct investment in Suzhou reached $6.13 billion in the first half, representing a 7.3 percent year-on-year growth. High-tech industries attracted $2.71 billion in foreign investment, a remarkable 49.1 percent increase.

The per capita disposable income of all residents in the first half reached 38,576 yuan, growing by 4.9 percent year-on-year. Urban residents' per capita disposable income reached 43,358 yuan, with a 4.5 percent growth, while rural residents' per capita disposable income reached 23,748 yuan, marking a 5.8 percent growth.