East China’s Jiangsu province has continued to adjust its industrial structure and accelerate supply-side structural reforms since the beginning of this year by eliminating backward overcapacity and cultivating emerging industries in a bid to accelerate the transformation of new and old kinetic energy.
Xuanyou Technology is a smart manufacturing R&D and precision parts processing enterprise introduced by Wangting Town, Xiangcheng District of Suzhou last year. Its main customers include Huawei and Tesla. The annual output value is expected to exceed 800 million yuan.
The company initially refused to settle down because the market in Wangting Town was once entrenched in waste plastics, scrap tires, scrap metal, and the industrial structure was therefore backward.
In order to make up for the weaknesses and boost transformation, the local government began to eliminate low-level and inefficient enterprises three years ago, replacing more than 1,550 mu of land so as to make room for future high-quality development.
At the same time, the local government also launched a series of measures to support entrepreneurial innovation, deepen the VAT reform, reduce the VAT rate in the manufacturing industry, further simplify the business process, etc.
Gu Yehong, General Manager of Suzhou Xuanyou Technology Co., Ltd.
Wangting's external environment and industrial facilities
including infrastructure
are indeed very efficient
It took us no more than 15 days
to get the construction permit
The local government has made further efforts to reduce the cost of production energy, logistics, financing, etc., continue to reduce the cost of the real economy and institutional transactions, and cut back on the fees levied on enterprises so as to give the enterprises more sense of gain.
At present, Wangting Town has focused on the creation of the Gonghu Emerging Industrial Park and the Intelligent Manufacturing Industrial Park. There are 17 projects under construction in the town.
Gu Min, Party Secretary of Wangting Town, Xiangcheng District, Suzhou
We have eliminated low-end industries
to make room for high-quality
brick-and-mortar manufacturing
At the same time
we are also strengthening the exploration
of cultural tourism resources
creating a better environment for living and working
and building a new Wangting
with high-end industrial clusters
Jiangsu has witnessed more balanced reform in the supply and demand structure with the further deepening of the supply-side structural reforms in Jiangsu, especially the implementation of various measures to deepen the capacity and foster the development of new kinetic energy.
At present, Jiangsu is promoting the deepened application in the research and development of big data and artificial intelligence. A number of emerging industrial clusters such as next-generation information technology, biomedicine, new energy vehicles and new materials are accelerating.
In the first three quarters, Jiangsu increased its high-tech industry output value by 6.0%, accounting for 44.9% of the above-scale industries, up 0.2 percentage points over the first half of the year.
The added value of high-tech manufacturing and equipment manufacturing industry accounted for 21.4% and 48.1% respectively, up 0.7 and 0.1 percentage points respectively over the first half of the year.
The added value of high-energy-consuming industries fell by 0.1 percentage points from the previous quarter.
The growth of new kinetic energy has not only become an important driving force for economic operations to maintain at a reasonable range, but also added stamina for economic structure optimization and economic stability.
Shen Kunrong, Dean of School of Business, Nanjing University
The growth of enterprises in the emerging field
has enabled our industrial structure
to be continuously optimized
Through the continuous advancement
of new and old kinetic energy transformation
especially the growth of strategic emerging industries
the integration of high-tech
industry information technology industry
and traditional manufacturing industry has been promoted
helping Jiangsu to shift from made-in-Jiangsu
to intelligent manufacturing in Jiangsu
to provide strong industrial support
for the province’s high-quality development
