The Zhangjiagang Statistics Bureau announced at an economic performance news briefing held on Jan 29 that the city's economy saw steady growth in 2017.

Its GDP reached 260.6 billion yuan ($156.7 billion), a year-on-year growth of 7.4 percent, a 0.2 percentage point higher than that of Suzhou, Jiangsu province. Zhangjiagang is a county-level city under the administration of Suzhou, one of China's economic powerhouses.

"Last year, Zhangjiagang maintained steady economic growth, optimizing its industrial structure and shifting to new engines of development," said Tao Xiaofeng, deputy director of the bureau at the news briefing.

He said the government has carried out a series of policies to encourage innovation, including increased investment and awards, mechanisms for cooperation between companies and research institutions, restructuring of research teams and introduction of top personnel.

Accordingly, the city's industrial production showed steady and fast development last year, with its industrial output value hitting 499.32 billion yuan, a year-on-year growth of 17.1 percent. Emerging industries accounted for 45.8 percent of that growth with new equipment, smart grids and new material industries especially accelerating.

Zhangjiagang expects its economy to maintain a steady pace and its growth rate to reach 7 percent in 2018.