Core Insights - The service industry in Yangzhou has become the largest sector of the national economy, contributing significantly to GDP growth with a 6.4% increase in the first half of the year, reaching a historical high of 52.2% of GDP [2][3] Economic Contribution - The service sector's value added grew by 6.1% in Q1, surpassing the provincial average by 0.2 percentage points, and its share of GDP increased from 48.8% at the end of last year to 52% [2] - In the first half of the year, despite a GDP growth slowdown to 5.7%, the service sector maintained a growth rate of 6.4%, outperforming the city's overall GDP growth by 0.7 percentage points [2] Industry Development - The "9+6" service industry system has driven significant growth across various sectors, with revenue from all regulated service enterprises increasing by 12.3% from January to May, and key industries growing by 18.5% [3] - The internet and related services, software, and scientific research sectors saw remarkable growth rates of 54%, 22.6%, and 17.4% respectively [3] Project Construction - Yangzhou has made significant progress in major service industry projects, with 55 projects selected as key provincial projects, an increase of 35 from last year, and a 94.5% commencement rate [4] - The city has signed 259 major service projects worth over 100 million yuan, achieving 92.5% of its annual target [4] Financial Services - By the end of June, the total loan balance in Yangzhou reached 1.21 trillion yuan, a year-on-year increase of 12.7%, ranking second in the province [5] - The city has implemented financial initiatives to support consumption, with a focus on enhancing the precision and effectiveness of financial services for the real economy [6] Consumer Activity - In the first half of the year, Yangzhou's total retail sales reached 96.44 billion yuan, growing by 6.4% year-on-year, exceeding the provincial average [7] - The introduction of new stores and the "old-for-new" policy have significantly boosted consumer spending, with 49.1 million orders generated from the "old-for-new" initiative, leading to sales of 4.45 billion yuan [7]