Jiangsu led growth in investment, consumption in Jan-Feb

(Xinhua)
Updated: 2009-03-28 17:10

NANJING - China's eastern province of Jiangsu had the fastest growth rates for investment and consumption among the country's economically developed regions in the first two months of this year, the provincial economic and trade commission said Saturday.

Boosting investment and consumption are the major methods China plans to use to support growth during the global downturn.

Jiangsu's urban fixed-asset investment was 148.22 billion yuan (US$21.73 billion), up 20.9 percent year-on-year. The growth rate was 18.5 percentage points higher than in Shanghai, 10.3 points higher than in Zhejiang, 3.4 points higher than in Shandong and 10.4 points higher than in Guangdong.

Retail sales rose 15.6 percent year-on-year to 192.35 billion yuan. The growth rate exceeded that of Shanghai (15.2 percent), Zhejiang (13.5 percent) and Guangdong (14 percent).