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An aerial view of Nantong. [Photo/Nantong Daily]

The GDP of Nantong in East China's Jiangsu province had exceeded 1 trillion yuan ($148.11 billion) after 10 years of innovative development, according to Chen Weidong, the city's deputy mayor, at a recent news conference.

Nantong's GDP totaled 1.1027 trillion yuan in 2021 after its GDP exceeded 1 trillion yuan for the first time the previous year, and the GDP of all counties and districts administered by Nantong have now exceeded 100 billion yuan.

The city is now home to more than 1.1 million market entities, including over 300,000 enterprises, and outstanding deposits and loans in the city are valued at more than 1 trillion yuan.

The city's six major industries – shipbuilding and oceanography engineering, high-end textiles, electronic information, intelligent equipment, new materials, and new energy and new energy vehicles – saw rapid development over the past decade, while emerging industries such as new-generation information technology, are also poised for take-off.

Both the industrial taxable sales revenue and taxable sales revenue of the service sector in Nantong have exceeded 1 trillion yuan, and the output value of its building industry led the country in the same period.

In addition, development zones in Hai'an, Rugao and Haimen, as well as the Nantong Economic and Technological Development Area, have been upgraded to the national level. Nantong businesses have invested in 52 countries and regions involved in the Belt and Road Initiative.