Over the past year the economy of Huqiu district registered a stable performance with good momentum for growth.
“Innovation” has become a most prominent feature of Suzhou New District. Suzhou New District’s grade moves up one spot, ranking No 17, on the list of all the national high-tech zones in China.
Regional GDP (gross domestic product) reached 115 billion yuan ($18.24 billion), representing 7 percent growth. With an increase of 10.2 percent, the general public budget revenue was 14.3 billion yuan, with taxation accounting for 91 percent. Per capita income of residents rose by 8 percent.
Economic structural adjustment was stepped up. The total output value of industries above a designated scale reached 280 billion yuan, an increase of 6.5 percent. The fixed asset investment of Suzhou New District was 53.3 billion yuan, 28 percent of which went to emerging industries while 15.9 percent supported hi-tech industries.
New drivers of growth gained strength. Further progress was made in pursuing the innovation-driven development strategy, and a number of world-leading achievements were made in science and technology. Emerging industries thrived, and transformation and upgrading of traditional industries accelerated. The output value of emerging industries accounted for 56.3 percent of the total of industries above a designated scale, and the output value of the hi-tech industries accounted for 77.3 percent of the total of industries above that mark. Suzhou New District added an additional 21 research institutes and 80 hi-tech enterprises in 2017, as well as 440 high tech companies. The district submitted 11,000 patent applications and 130 PCT (Patent Cooperation Treaty) applications in 2017.
Continued advances were made in reform and opening up. Breakthroughs were made in reforms in major sectors and key links, and initial success was achieved in supply-side structural reform. Suzhou New District closed 47 inefficient enterprises, reducing the public burden by 3.3 billion yuan, and also built a big data management platform of industrial companies.
The total import and export value of Suzhou New District reached 271.6 billion yuan, a growth of 21 percent. The district had inward foreign investment of $750 million, more than 45 percent of it placed in emerging industries. And Suzhou New District added 14 overseas investment projects in 2017, with a total consultative investment of $290 million. With a 26 percent year-on-year growth, 150 China-Europe export freight trains were dispatched from Suzhou, carrying cargo worth $1.42 billion. The SND Integrated Free Trade Zone became Jiangsu’s first designed port for importation of meat to interior regions in 2017.
Living standards were improved. Personal per capita disposable income increased by 8 percent. Suzhou New District carried on 25 practice projects for the people in 2017. The assurance system continues to improve, with the coverage rate of basic medical insurance and major medical insurance reaching 99.98 percent and 99.95 percent respectively.