23 Nov 2016
Nantong (Jiangsu) City Information
|Major Economic Indicators (2015)|
|Land Area (km2)||10,549|
|GDP (RMB billion)||614.8|
|GDP Per Capita (RMB)||84,236|
|Retail Sales of Consumer Goods (RMB billion)||237.9|
|Utilised FDI (USD million)||2,316|
|Exports (USD million)||22,826|
|Imports (USD million)||8,753|
Source: Jiangsu Statistical Yearbook 2016
Nantong, known as a "Pearl of the River and Sea", was one of the first 14 port cities opened to foreign investment under China's policies of modernisation. It ranked as the 28th most competitive city in China in 2016 according to the Chinese Academy of Social Sciences.
Nantong is designated as a regional hub in MOFCOM’s development plan (2015-2020) of distributive trade and logistics. While the Nantong Port is the third largest inland river port in China, the Nantong Xingdong Airport also serves as an important cargo transfer point for Shanghai.
The industry sector dominates the city’s economy, accounting for 40% of the city’s GDP in 2015. New energy, electronic information and chemical and pharmaceutical industry are the major industries in the city.
With the completion of the Su-Tong (Suzhou-Nantong) Yangtze Bridge in April 2008, driving time from Shanghai to Nantong has been shortened to within an hour. Nantong is building itself as a platform for Shanghai’s transfer of automobile, petrochemical, equipment manufacturing and electric appliance industries, in a bid to merge with Shanghai's economy and benefit from the spillover effect of the city.
Major Industrial Parks / Development Zones
1. Nantong Economic & Technological Development Zone (state-level)
Target industries: Fine chemicals, textile fibers, new materials, paper
2. Nantong Export Processing Zone (state-level)
Target industries: Electronics, bio-pharmaceuticals, precision machinery, garments