NANJING, Jan. 14 -- 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 one trillion U.S. dollars in 2014, the government said.

The province collected fiscal revenue of 720 billion yuan (116 billion U.S. dollars) 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.