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Zhangjiagang economic overview

( chinadaily.com.cn )

Updated: 2019-08-16

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Zhangjiagang economic overview

Photo shows the thriving Zhangjiagang port. [Photo/WeChat Account:zjgdaily]

Zhangjiagang has paid much attention to the rejuvenation of its real economy as the avenue for building itself into a powerful port city,

In 2018, the city's GDP reached 272 billion yuan with a year-on-year increase of 6.8 percent. The average disposable income among the city's residents reached 53,000 yuan, an increase of 8.6 percent.

The reform and opening up of the city has also seen a progression. Its imports and exports value totaled $36.1 billion, up 12.5 percent.

Shagang Group, China's biggest private steel enterprise nurtured by the city, hit annual revenue of more than 200 billion yuan, and has featured in the Fortune 500 for nine consecutive years.

In 2018, Shagang completed 31.83 million tons of iron, 40.66 million tons of steel and 39.54 million tons of rolled materials. Its sales revenue reached 241 billion yuan ($34.9 billion).

The city has 20 listed companies with a total market value of nearly 300 billion yuan, ranking first among the cities and counties of Suzhou. Kangde Xin Composite Material Group Co, the biggest listed company in Suzhou, has a market value of 70 billion yuan.

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