NETDA expects 6.8% GDP growth in 2025

The Nantong Economic and Technological Development Area (NETDA) has set a GDP growth target of approximately 6.8 percent for 2025, according to the recent regional work meeting.

In 2024, NETDA recorded a 6.9 percent increase in GDP, ranking first among the city's eight districts or industrial zones. The area also achieved 7 billion yuan ($960.66 million) in general public budget revenue, reflecting a growth of 6.08 percent. Tax revenue accounted for 79.3 percent of the total. The numbers ranked first and second among all districts and industrial zones in Nantong, respectively.

In terms of key economic performance, NETDA saw impressive results last year. Total invoiced sales amounted to 390.67 billion yuan, marking a 6.3 percent increase and ranking third in the city. Foreign trade imports and exports totaled 70.94 billion yuan, with a growth rate of 6.1 percent, ranking second in the city. The actual foreign investment utilized amounted to $516 million, representing 35 percent of the city's total.

Moreover, NETDA maintained its position at 21 in the Ministry of Commerce's national ranking for economic and technological development zones.

Looking ahead to 2025, the area has outlined several key targets. The area aims for a GDP growth of around 6.8 percent, a public budget revenue growth of 4.3 percent, and an increase in R&D investment to over 4.1 percent of total output. It is also targeting an 8 percent growth in industrial output from large-scale enterprises, and a 6 percent increase in service sector revenue. Foreign trade is expected to grow by at least 5 percent, and actual foreign investment is targeted to exceed $600 million. One of the key goals for 2025 is to ensure that residents' per capita disposable income continues to grow at a rate consistent with the overall economic development of the area.