China's Jiangsu joins trillion-dollar club

NANJING - East China's Jiangsu province has joined the trillion-dollar GDP club, the second province in China, the provincial government said on Wednesday.

Jiangsu's GDP is estimated to have grown 8.6 percent to more than $1 trillion in 2014, the government said.

The province collected fiscal revenue of 720 billion yuan ($116 billion) last year.

The incomes of urban and rural residents increased 9 percent and 10.5 percent respectively in 2014.

The economic growth was mainly driven by a 12.3 percent increase in consumption and a 15.5 percent rise in investment.