The private economy in east China’s Jiangsu province has gathered momentum since the start of this year with specialty and hi-tech enterprises spearheading the province’s high-quality development, as is evidenced by the addition of more than 10000 private companies per day.
From January to April, the added value of the privately-owned industries above designated size in the province increased by 8 percent year-on-year, and the growth rate was 0.5 percentage points higher than the industry above the designated scale.
The increase in import and export of the private enterprises was higher than the provincial average. As of the end of April, 120 Jiangsu-based private enterprises outpaced their rivals on the domestic market by contributing 60% to the province's manufacturing industry.
Under the environment of unstable domestic and foreign markets with an increasing number of unstable factors, a group of industry giants continued to exploit the advantages of their specialized technological advantages and services to open up the market. The Jiangyin Shuangliang Group, an energy-saving air-cooled enterprise, has finalized the construction of a large-scale air-cooling tower for the Huaneng Ningxia Dam Power Plant, which is dubbed the high-tech and resource-saving project of the thermal power industry in China.
The development model of new technology + service-oriented manufacturing has enabled Shuangliang to schedule its domestic and overseas orders for air-cooling towers for next year.
In a more favorable and relaxed policy environment, the province’s industrial and commercial departments registered 325,000 new private enterprises with a daily registration of 1167 private companies.
Insiders say due to the increasing uncertainties in the international economic environment, Jiangsu needs to create more innovative and tolerant atmospheres, striving for the emergence of more unicorn enterprises, and more explosive and stimulating enterprises so as to give further impetus to the private sector.
