Source of this article: Times Finance Author: Yu Siyi
Recently, GDP in various cities was announced one after another in the first half of 2022. According to the times data, in the statistics of per capita GDP, Wuxi ranked first among the top 20 cities with 90,000 yuan. Some netizens once joked: "Jiangsu is all in bulk, and Wuxi people are the richest."
According to the Wuxi Bureau of Statistics, in the first half of the year, the city achieved a regional GDP (GPD) of 671.475 billion yuan, a year-on-year increase of 1.6% based on comparable prices. By region, county-level cities Jiangyin and Yixing and municipal districts Xinwu District have made great contributions.
Among them, Jiangyin contributed 203.146 billion yuan, accounting for almost 1/3. In terms of area, Jiangyin accounts for 21.3% of Wuxi, and in terms of population, Jiangyin accounts for 23.82% of Wuxi, with a per capita GDP of 114,000 yuan in the first half of the year. Yixing contributed 104.715 billion yuan. In addition, Xinwu District, which implements the "district-government-integrated" management system with Wuxi Hi-tech Zone, contributed 108.726 billion yuan.
As we all know, Jiangsu's county economy is one of the most developed regions in the country. According to the 2022 Top 100 counties, Jiangsu Province holds 6 seats in the top 10 counties, namely Kunshan , Jiangyin, Zhangjiagang, Changshu , Taicang , and Yixing.
"Jiangyin and Yixing in Wuxi are both top 100 counties, and the county economy is relatively developed and is a benchmark for county economic development." On August 4, Vice President and Secretary-General of of the Chinese Regional Economic Society and Researcher of Chinese Academy of Social Sciences Chen Yao told Times Finance .
Chen Yao believes that the per capita GDP indicator is to examine labor efficiency . Jiangyin, which only accounts for 20% of Wuxi, contributes 33% of GDP, which shows that the population carrying capacity of this region is not very large, but due to its outstanding comparative advantages in economic structure, high industrial level, and high economic resilience, per capita GDP is high.
Image source: Tuchuang Creative
is backed by Yangtze River Delta , and is laid out with high-end industries
Wuxi is located in the center of Yangtze River Economic Belt and Yangtze River Delta region, and is the central location of the three major urban agglomerations along the river. Regarding the economic operation of Wuxi in the first half of the year, the Wuxi Bureau of Statistics released a briefing on August 1 stated: In the first half of the year, facing the multi-point spread of the new crown epidemic and the complex and severe international situation, the whole city has thoroughly implemented the important requirements of the Party Central Committee of "the epidemic can be prevented, the economy must be stabilized, and the development must be safe", coordinated epidemic prevention and control and economic development, and the city's economy continues to recover, and its overall operation remains stable.
According to data from Wuxi Bureau of Statistics, by industry, the secondary industry and tertiary industry account for 48% and 51.3% respectively, and these two parts achieved growth of 1.7% and 1.4% respectively.
In the first half of the year, the overall industry maintained a stable development trend, with the added value of industrial added increasing by 2.0% year-on-year, of which the added value of high-tech manufacturing above the designated size increased by 8.0% year-on-year. The financial industry and information transmission, software and information technology service industries have developed well, with the year-on-year growth rates of added value being 8.8% and 17.2% respectively.
Wuxi Bureau of Statistics further pointed out in the briefing of "Overall Stable Economic Operation in the First Half of 2022" that despite the disturbance of the epidemic, Wuxi's transformation and upgrading trend in the first half of the year has not changed. High-tech manufacturing and equipment manufacturing industry have maintained rapid growth, and new momentum continues to grow and grow, 5.8 percentage points higher than the growth rate of large-scale industries. Among them, the aviation, spacecraft and equipment manufacturing industry grew by 21.0%, the medical instruments and equipment manufacturing industry grew by 16.1%, and the electronics and communications equipment manufacturing industry grew by 12.8%. The added value of the equipment manufacturing industry increased by 5.3% year-on-year, 3.1 percentage points higher than the growth rate of large-scale industries.
"Wuxi is a strong manufacturing city, especially high-tech and high-value-added industries, and has undertaken many economic transfers from Shanghai." Chen Yao introduced to Times Finance that as early as the 1990s, Wuxi began to lay out these technological and high-tech industries and research projects. After years of construction, its industrial structure has been relatively high.
Chen Yao also gave an example, saying that in the 1990s, the world's leading characteristic process pure wafer foundry company in chip manufacturing, , settled in Wuxi. In the past two years, in our country's chip shortage, Wuxi's related industrial chain played an important supporting role.
In addition to the leading in 's advanced manufacturing industry, the supporting service industry is also booming.
According to Wuxi Bureau of Statistics, from January to May, the operating income of the software and information technology service industry in the above-scale service industry increased by 28.5% year-on-year, 18.6 percentage points faster than the above-scale service industry. With the significant increase in demand for "contactless consumption", online retail achieved rapid growth. In the first half of the year, the city achieved a limited online retail sales of 10.936 billion yuan, a year-on-year increase of 24.5%. Investment in high-tech services increased by 42.1% year-on-year, accelerating by 17.7 percentage points from January to May. Among them, investment in e-commerce services increased by 267.8%, investment in information services increased by 72.3%, and investment in the transformation of scientific and technological achievements increased by 15.0%.
According to the "Outline of the 14th Five-Year Plan for Emerging Industries in Wuxi and the 2035 Vision Goals", Wuxi will also focus on building 16 advanced manufacturing clusters and 4 future industrial clusters with international influence, domestic leading and high growth potential, and focus on cultivating landmark industrial clusters such as the Internet of Things, integrated circuits, biomedicine , etc.
According to Wuxi Daily , as of now, Wuxi has 107 listed companies in A shares. Times Finance found that according to Wind data, most industries are automobile manufacturing, machinery and equipment, electronics, etc. in the manufacturing industry, and a few industries include software services, ecological governance, etc.
Chen Yao pointed out that like Wuxi, emerging industries produce products with high added value, and most cities dominated by high added value industries have high per capita GDP. "Per capita GDP is an indicator to examine labor efficiency and an important indicator to measure a country's economic development."
data shows that in 2021, my country's per capita GDP reached 80,976 yuan, and calculated on the annual average exchange rate to reach 12,551 US dollars, breaking the world average of 12,000 US dollars.
The development and resilience of county economy
Judging from the GDP performance of Wuxi districts and counties, Jiangyin, as a traditional economic developed region, has a leading economic output in all districts and counties. In the first half of the year, Jiangyin City achieved a regional GDP of 203.146 billion, a year-on-year increase of 0.7%.
Jianyin is a county-level city under the jurisdiction of Jiangsu Province and is managed by Wuxi City . Chen Yao said that Jiangyin is one of the benchmarks of domestic county economy. Due to the impact of the epidemic, Jiangyin has slowed down in terms of economic growth. However, due to the good economic foundation and large base in the past, the growth rate will not be very high.
In addition, Xinwu District and Yixing City GDP in the first half of the year is also quite interesting. It is reported that as an industrial park, Xinwu District has a developed industrial economy, domestic and foreign enterprises gather, and has developed industries such as biomedicine and machinery manufacturing. Yixing City is also one of the best in county economy. According to People's Daily , Yixing's domestic market share in wires, cables and environmentally friendly water treatment equipment has gradually increased, currently reaching more than 13% and more than 40% respectively.
According to China News Network , there are currently more than 1,800 counties and county-level cities across the country, and the total economic output accounts for 38% of the country. According to the County Economic Research Center of Cydie Consulting, the distribution pattern of the top 100 counties in the Yangtze River Delta in 2022 is distinctive: among the top 100 counties in the Yangtze River Delta, Jiangsu Province accounts for 40 seats, and all counties (cities) are shortlisted; Zhejiang Province accounts for 38 seats, accounting for 71.7% of all counties (cities, autonomous counties); Anhui Province accounts for 22 seats, accounting for 37.3% of all counties (cities). Jiangsu, the top 100 counties ranked 1-10, occupies 6 seats, mainly concentrated in , Suzhou City, and Wuxi City. Among them, Jiangyin City under Wuxi ranked second and Yixing City ranked eighth.
Yixing and Jiangyin are located in Wuxi in the north and south. In the first half of this year, the two places contributed a total of 45.8%, which is nearly half of the GPD.
Wuxi Development and Reform Research Center Zhu Wei pointed out in the "Research on Economic Development of Jiangyin County from a Comparative Perspective" in 2021 that Jiangyin has a developed private economy and a strong manufacturing industry. The total number of listed companies and the total amount of funds raised are both ranked first among similar cities in the country. From the perspective of leading enterprises, Jiangyin, one of the top 500 manufacturing enterprises in China, was selected as many as 19 companies in Jiangyin in 2019. The top five industries in Jiangyin's manufacturing industry are ferrous metal smelting, clothing and apparel, chemical industry, textile and electrical machinery industries. The total output value of the five major industries accounts for 52.6% of Jiangyin's industry.
But it should be pointed out that the small proportion of advanced manufacturing is Jiangyin's shortcomings. According to the above article, Jiangyin's investment in scientific and technological research and development accounted for 3.21% of GDP in 2019, 116 new high-tech enterprises were added, 10,000 invention patents were owned by 22.8, and 13,000 high-level talents were 13,000.Therefore, Jiangyin should accelerate the promotion of industrial transformation and upgrading based on Xicheng integration.
County towns are connected to cities and villages on the other hand, and plays an important role as a bridge in the economic circulation system. Chen Yao pointed out that Wuxi's economy has a very high correlation with Shanghai, and Shanghai's economic activities were impacted in the second quarter, which also had a great impact on several surrounding cities. In this process, the county town demonstrated its flexibility and resilience.
