The industrial added value of East China's Province expanded 3 percent year on year in the first two months of 2019, according to official figures revealed by the provincial department of industry and information technology on Monday.
In January and February, the added value of industrial enterprises above designated size increased by 3% year-on-year with a respective growth of2.8% and 2.6% in southern and central Jiangsu. The growth rate in northern Jiangsu increased by 4.1%, 4.1 percentage points higher than the same period of last year, and 1.1 percentage points higher than the provincial average.
Eight of the 13 prefecture-level cities have posted faster growth than the provincial average, with Yangzhou and Yancheng ranking the top two at a growth rate of 8.5% and 8% respectively.
The industries such as metallurgy, building materials and petrochemicals, which drive industrial growth substantially, posted steady growth in the industrial added value. Shagang, Yonggang and Nangang, three large steel works in Jiangsu, saw their sales and profits higher than the same period of last year.
The construction machinery industry continued to maintain rapid growth due to favorable national policies and cyclical product updates. The rail transit industry posted stable growth primarily from the Belt and Road initiative.
The shipbuilding industry has rebounded, and companies such as New Hantong Shipbuilding Heavy Industry Co. Ltd and China Shipbuilding Power Co., Ltd. have reported sufficient orders. The demand for fiber optic cable products has fallen short of supply and will continue to expand with the widespread commercial use of the 5G technology.
In the first two months of this year, the province's industrial investment increased by 3.6% year-on-year, an increase of 1.5 percentage points over the same period of last year. Among them, industrial technology reform investment increased by 9.5%.
In the first two months, the province's key industrial investment plan has completed an investment of 29.5 billion yuan, completing 15.9% of the annual plan, better than the same period last year.
Emerging industrial projects represented by new energy, new materials and new electronics account for more than 80% of the province's industrial investment this year, and will gradually solve the bottleneckthat restricts the development of strategic emerging industries. Overall, the key enterprises have filled their production tasks, ensuring that the province's industry achieves further optimization of quality and efficiency amidst steady growth.
In the January-February period, the province's industrial power consumption increased by 7.4% year-on-year, which stood for the steady growth of industry and the development of new projects.
(Source：ourjiangsu.com)
