Since the founding of New China, especially since the reform and opening-up policy was carried out, which was set at the Third Plenary Session of the 11th CPC Central Committee,
Yangzhou has witnessed an industrial system focusing on the machinery, food, textile and chemical industries formed, with numerous products winning top-quality prizes at State, ministerial and provincial levels respectively.
In 1997, the total output value of GDP throughout the city was 37.671 billion yuan. The condition of farm production has been further improved, so that the annual added value of agriculture, forestry, animal husbandry and fishery industries was 5.906 billion yuan.
The total output of grain was 2.43 million tons, along with 23,300 tons of cotton, 76,800 tons of oil materials and 3,900 tons of silkworm cocoons. The annual added value of industry reached 16.42 billion yuan, the annual output value of light industry was 16.062 billion yuan, that of the heavy industry 24.456 billion yuan and township enterprises 50.518 billion yuan.
The local authorities have continuously expanded the scope of exports, with much headway in exploring foreign markets. The export volume managed by Yangzhou itself amounted to US$648 million; the number of newly-approved projects using foreign funds was 54, with US$214 million of capital actually used, generating US$18.69 million worth in foreign trades in 1997. The income of foreign tourism totaled US$22.49 million. The financial revenue in the same year was 2.279 billion yuan, 365 million yuan of which went to the insurance business.
A large expansion has been witnessed in communications and transportation. The volume of freight transportation by various means amounted to 4.923 billion tons/km, the passenger transportation 3.485 billion person/km and the harbor cargo handling capacity was 5 million tons.
The business volume of post and telecommunications services in 1997 was 832 million yuan, with switchboard capacity totaling 8.28 million. At present, the information harbor project in Yangzhou is under construction.
