Jiangsu's industrial economy has been generally stable since the beginning of this year, and the growth rate of major indicators has remained within a reasonable range, according to the latest data from the Provincial Department of Industry and Information Technology. In the second half of the year, industrial investment continued to increase, especially the smooth completion of a number of key projects in advanced manufacturing clusters supported the steady and high-quality growth of the province’s industry.
From January to August, the added value of industrial enterprises above designated size in Jiangsu increased by 5.9%, which was 0.3 and 0.8 percentage points higher than that of the same period of last year and the entire year of 2018. The growth rate was higher than the average in China and higher than that of the economically developed provinces such as Guangdong, Zhejiang and Shandong.
In the first eight months of this year, Jiangsu's industrial investment increased by 5.6%, and the growth rate rebounded by 2.7 and 1.4 percentage points respectively from the first quarter and the first half.
Industrial technology reform investment increased by 10.2%, and the growth rate rebounded by 0.8 and 0.1 percentage points respectively compared with the first quarter and the first half year.
Since the beginning of this year, Jiangsu has implemented 863 advanced manufacturing cluster projects with a total investment of over 1 trillion yuan and 79.9% of the annual plan fulfilled.
Spearheaded by high quality investment projects, from January to August, Jiangsu reported steady growth in the major industrial sectors with remarkable progress in the advantageous and competitive sectors such as pharmaceuticals, engineering machinery, ships and rail transit, and photovoltaic. Traditional industries such as building materials and metallurgy improved productivity through technological transformation and developed high-quality products. The steady growth has driven the recovery of Jiangsu's industrial rebound rate.