East China’s Jiangsu Province has been increasing investment in promoting its industrial growth. Since early July this year, numerous key projects of advanced manufacturing industry clusters have been put into operation, giving strong impetus to the steady industrial growth of the province.
January through August, Jiangsu sees a 5.9% growth in the added value of above-scale industries, up by 0.3% and 0.8% compared with that of the same period and entire period of last year, and also higher than that of such economically advanced provinces as Guangdong, Zhejiang and Shandong. With an increase in manufacturing loans, Jiangsu’s exports of industrial products remain stable.
Under the pressure of economic downturns, Jiangsu still pays special attention to maximizing its investment structure by injecting advantageous capital and human capital resources to advanced manufacturing projects. During the first eight months of this year, Jiangsu registers an increase of 5.6% in its industrial investment, 2.7% and 1.4% higher than that of the first quarter and first half of the year. The investment in technical reform rises by 10.2%, 0.8% and 0.1% higher compared with that of the first quarter and first half of 2019.
At Jeve Power Industrial Jiangsu Company Limited, the new energy battery Phase I project, with a total investment of 1.8 billion RMB, has been put into mass production. The cycling life of the newly-produced 240-watt new energy lithium-ion battery for electric vehicle exceeds 160,000 kilometers. Thanks to its leading power density, reliability and safety in the Chinese market, the company sees its product orders already scheduled for the next year.
Wu Yuepeng
Manufacturing Director, Jeve Power Industrial Jiangsu Co., Ltd.
As the company is under great delivery pressure, we have to go all out for on-time delivery to our clients. The new factory now boasts a per capita efficiency five times that of the previous level.
In 2019, Jiangsu has launched 863 such advanced manufacturing cluster projects as Jeve, with the total investment amounting to over 1 trillion RMB. Up to date, 79.9% of the annual plan has been completed, among which industrial clusters of integrated circuit, new display, auto parts, new energy equipment are progressing rapidly. The 12-inch beltline has been put into operation at Huaihong Wuxi Base. As the first of its kind in China as well as the most advanced beltline of the country, it is meant to lead the development of the integrated circuit cluster in Jiangsu. The Shenghong refinery and ethylene integrated project will generate an extra sales volume of 180 billion RMB upon its completion, which will support the sustained high-quality growth of industries in Jiangsu.
Led by these advantageous projects, the major industries remain stable in Jiangsu January through August, with such advantageous industries as pharmacy, construction machinery, shipping, rail transit and photovoltaic growing rapidly. Building material, metallurgy and other traditional industries have also registered a steady rise by developing quality products through technical transformation and increasing productivity.
