Since the beginning of 2018, the Xuyu Economic Development Zone has strengthened environmental protection supervision and revolutionized the industrial structures to acquire enterprises on the brink of bankruptcy at the government’s expense so as to come up with a win-win situation on the road of practicing green economy development.
Jiangsu Lux-Tech Co., Ltd., a Sino-German joint venture technology-based enterprise in the Xuyu Economic Development Zone, specializes in the production of new generation of vending machines. Thanks to the self-developed sports mechanism technology, the vending machines have been made it easier to reach the goods with lower failure rates. In just one year, the product not only won about 10% of the domestic market share, but also exported to the European market.
Lux-Tech has launched its investment project over a plot of land where it was occupied by a highly polluting wood processing enterprise a few years ago. At that time, the entire economic development zone relied mostly on traditional industries such as steel pipe bearings and garment processing, making it the major source of industrial pollutants.
In the process of exploring transformation and upgrading, the development zone took drastic measures to improve environmental protection facilities and shut down polluting enterprises. The zone administration acquired 54 enterprises on the brink of bankruptcy so as to make way for the settlement of environmental-friendly investment projects.
Under a series of drastic reforms, the zone has taken on a new look, attracting a large number of leading industrial enterprises such as China Aerospace Semiconductor Chip, Dutch Hydrogen Power Vehicle, Matsushita Electric Manufacturing Co., Ltd. and Hafei Machinery.
By the end of 2018, the zone had introduced more than 500 large-scale enterprises, forming a high-end equipment intelligence, electronic and electrical information and high-tech "2+1" characteristic industrial system. When the enterprises are completed and put into production, the zone is expected to turn out 50 billion yuan of output each year, which is 2 times higher than before the transformation and upgrading.
（Source:ourjiangsu.com）
