With the new years behind us, it’s time to assess our financial performances during 2022. The City of Nanjing has just managed to beat a growth of 2 percent, while Jiangsu is now snapping at the heels of Guangdong closer than ever before.
On 29 January, the Nanjing Municipal Bureau of Statistics released the economic performance data for Nanjing in 2022, showing that the City managed to grow its Gross Domestic Product (GDP) by 2.1 percent. All in, Nanjing last year generated some ¥1.69068 trillion.
By industry, that number breaks down as growth rates of 3.4 percent, 1.7 percent and 2.2 percent, for Nanjing’s primary, secondary and tertiary industrial sectors, respectively.
However, not all the news is good. In 2022, total retail receipts of consumer goods amounted to ¥783.241 billion, a contraction of 0.8 percent on the previous year, reports The Paper.
But amidst those receipts was the online sector, which showed a robust 21.0 percent growth, accounting for 27.2 percent of commodity retail sales, an increase of 4.8 percentage points over the previous year.
Automobiles also performed well in 2022, with retail sales climbing by 11.3 percent year on year. Therein, sales of new energy vehicles maintained their rapid growth, with a year-on-year increase of 171.3 percent.
As for the money in our pockets, the per capita disposable income for Nanjing citizens stood at ¥69,039 in 2022, an increase of 4.4 percent on the previous year. Meanwhile, the urban-rural divide narrowed once again, for the 10th consecutive year; urban residents earned on average ¥76,643, compared with their rural counterparts’ ¥34,664.
On a wider, national level, GDP figures for 2022 broken down by administrative region reveal China’s 10 biggest provincial earners.
Guangdong Province maintained the position it has held for the past 34 consecutive years as the country’s economic powerhouse, while our very own Jiangsu is once again placed second.
GDP in 2022 for Guangdong amounted to ¥12.91188 trillion in 2022, up 1.9 percent. But Jiangsu has this past year significantly narrowed that lead, by bring in a growth of 2.8 percent, for a 2022 GDP total of ¥12.28756 trillion.
Rounding out the top 10 of China’s biggest provincial-level earners last year is Shandong in third place, followed by Zhejiang, Henan, Sichuan, Hubei, Fujian, Hunan and Anhui.
Finally, a quick word about Anhui, placed at number 10. With it reporting a relatively healthy growth rate of 3.5 percent, this puts it one place above Shanghai on the league table, pushing the big smoke out of the top ten. GDP dropped by 0.2 percent last year in Shanghai, the only provincial-level administrative region in China, other than Jilin Province, to see negative growth in 2022. Both were the result of COVID.
