Comprehensive conditions of economy
Huai’an has achieved a stable performance while at the same time securing progress in its economic and social development. The GDP reached 304.8 billion yuan, an increase of 9% over the previous year. The investment in various fields increased rapidly. 253.5 billion yuan investment in fixed assets above the designated size was completed and 151.8 billion yuan was invested in industry above the designated size, an increase of 15.1% and 17.3% compared to 2015 respectively. 220 municipal level major projects completed the investment of 104 billion yuan, rising by 11.5%. Total social financing has reached 417.8 billion yuan by the end of the year, growing by 26%. The increasing effective investment keeps promoting the steady development of the economy in Huai’an. The real economy was developing steadily. Huai’an made great efforts to create a favorable environment for the development of real economy, continuously improving the six platform functions for enterprises and coordinating financial institutions to hand out cheap loans of 1.5 billion yuan and relending funds of 4 billion yuan to enterprises. The incoming taxes of the industry in Huai’an were 17 billion yuan, increasing by 5%, and the profits of enterprises in Huai’an were 36.7 billion yuan, rising by 8%. The transformation and development of the construction industry has been accelerated. The total output exceeded 150 billion yuan. The market dynamics was further stimulated. The number of newly registered private enterprises reached 16,000 and the number of individual businesses was more than 40,000. Innovation ability kept improving. The construction of the national innovative demonstration city was promoted. The building of the national high quality demonstration city was approved. The R&D spending accounted for 1.8% of the regional GDP. The output value of high-tech industry accounted for 25% of the total in Huai’an.