Chongchuan 2024 government work report reveals economic growth, development plans
The 2024 Government Work Report for Nantong's Chongchuan district has recently been released, outlining the district's economic performance and goals for the coming year.
According to the report, Chongchuan's GDP is expected to grow by around 6 percent in 2024. Public revenue is projected to reach 10.66 billion yuan ($1.45 billion), while industrial and service sector sales are expected to total 135.8 billion yuan and 428.6 billion yuan, respectively. The district's per capita disposable income among urban residents is forecasted to be 68,500 yuan.
In retail, the total value of social consumer goods sales is expected to reach 75.3 billion yuan, with the service industry's added value accounting for 68 percent of the economy. Key service sectors are predicted to see a 20.6-percent increase in revenue, while the district's total trade (imports and exports) is forecasted to reach 77.5 billion yuan.
The report also highlights significant achievements in business growth. Over 20,000 new market entities were registered in 2024, and eight new national-level "little giants" emerged. Additionally, more than 100 existing companies were upgraded to this status. Strategic emerging industries now account for more than 40 percent of the district's total industrial output, with profits from large industrial enterprises increasing by 14 percent.
Chongchuan has also ramped up efforts to attract investment, organizing promotional events in cities such as Shanghai, Suzhou, and Shenzhen. As a result, agreements for 50 major new projects were signed, with total investment exceeding 39 billion yuan. The district saw 16 new industrial projects launched with investments of over 500 million yuan each. In addition, 10 new projects in the district were completed in 2024, while 11 reached full production, with a total investment of 4.44 billion yuan.
Looking ahead, the report outlines Chongchuan's main development goals for 2025, including a GDP growth target of over 5.5 percent, a 3.2-percent increase in public revenue, and a 2.83-percent share of total social research and development expenditures. Fixed asset investment is expected to remain steady, while retail sales of consumer goods are projected to grow by around 5 percent.
