Premier urges China’s Jiangsu to step up efforts in technology, trade and consumption
Province’s GDP rose 5.9 per cent year on year in first quarter, closing in on top-ranked Guangdong
As Beijing looks to shore up China’s economic growth amid mounting challenges, Premier Li Qiang has called on Jiangsu province, a key manufacturing hub on the country’s east coast, to step up its efforts in technology, trade and consumption.
During a three-day visit to the province from Monday, Li emphasised the importance of embracing innovative development, stimulating effective demand, fostering entrepreneurship, and deepening reform and opening up to support China’s sustained economic growth.
“Jiangsu has a solid economic foundation and strong capabilities, but it also faces higher development expectations,” Li said, calling on the province’s officials and residents to stay focused on economic growth and shoulder greater responsibility in meeting the challenges facing the broader economy, Xinhua reported on Wednesday.
In the first quarter of this year, Jiangsu’s gross domestic product rose 5.9 per cent year on year to 3.31 trillion yuan (US$460.5 billion), closely trailing top-ranked Guangdong’s 3.35 trillion yuan, which was up 4.1 per cent.
One of China’s most advanced manufacturing provinces, Jiangsu has been tasked by Beijing with playing a leading role in stabilising growth amid sluggish domestic demand and growing external pressure from increased US tariffs.
At a factory that makes machinery, Li highlighted the need to accelerate the adoption of artificial intelligence and clean energy technologies to upgrade traditional industries and keep pace with global manufacturing trends.