Wuxi lights up at night. [Photo/Wuxi Daily]
The GDP of Wuxi in Jiangsu province reached 1.63 trillion yuan ($223.79 billion) in 2024, showing a 5.8 percent year-on-year increase as the city has made strides in high-quality economic development.
Last year, the total import and export value of Wuxi reached nearly 770.95 billion yuan, a year-on-year increase of 9.1 percent, which was 2.1 percentage points higher than the provincial average. This accounted for 13.7 percent of Jiangsu's total foreign trade, marking the highest point during the same period since 2020.
The China (Wuxi) Cross-border E-commerce Comprehensive Pilot Zone was approved last year, driving a significant increase in exports from overseas warehouses and flights along three international freight routes to Mexico City, Leipzig, and Incheon were also increased.
Wuxi's entrepreneurial initiative and creativity are the city's most enduring assets. Last year, for the sixth consecutive year, the city led its province in the number of companies making it onto China's top 500 enterprises, the top 500 manufacturing enterprises, and the top 500 service enterprises lists. In addition, Wuxi ranked sixth nationwide in terms of newly listed companies.
Industry is the cornerstone of the national economy and the most distinctive feature of Wuxi. Last year, the city successively issued implementation opinions to accelerate the cultivation and development of future industries and promote the transformation and upgrading of traditional industries. As a result, there were seven industrial clusters with annual revenues exceeding 200 billion yuan, with two clusters in new materials and high-end equipment exceeding 300 billion yuan in scale.
2025 marks the conclusion of the 14th Five-Year Plan, and Wuxi has set ambitious targets for the next phase of its development. The city is aiming for GDP growth of more than 5 percent, while also targeting an increase in retail sales of consumer goods by approximately 5.5 percent.
