E. China City Reports Strong First Quarter Economic Growth

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Last updated at: (Beijing Time) Wednesday, May 21, 2003

E. China City Reports Strong First Quarter Economic Growth

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Suzhou, a city in east China's Jiangsu province, earned over 56 billion yuan (675 million US dollars) in GDP in the first quarter of 2003, up 18.4 percent year-on-year, the best performance of 15 cities in the Yangtze River delta.

According to local statistics, Suzhou's fixed asset investment reached 25.92 billion yuan (3.12 billion US dollars) in the first three months, up 94.6 percent year-on-year, much higher than the average increase of 50.5 percent recorded by the 15 cities in the Yangtze River delta.

The city achieved industrial added value totaling 100 billion yuan (12 billion US dollars) in the same period, up 34.7 percent year-on-year, second only to that of Shanghai in the delta area.

Meanwhile, Suzhou achieved nearly 11.565 billion US dollars in import and export volume in the first quarter of this year, up 71.4 percent year-on-year, including 5.567 billion US dollars in exports, which represented a rise of 49.2 percent year-on-year. The two figures accounted for half of the province's total.

In addition, the city of Suzhou reaped 4.68 billion yuan (563 million US dollars) in revenue in the first quarter, up 41.5 percent year-on-year, second only to that of Shanghai in the Yangtze River delta.

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