East China’s Jiangsu province achieved overall stable growth of the industrial economy in 2019 by coordinating the work of stabilizing growth, adjusting the structure and promoting transformation regardless of the complex situation of rising risks and challenges at home and abroad.
In 2019, the added value of industrial enterprises above designated size in Jiangsu increased by 6.2% year-on-year which was higher than the target task of an annual increase of 5%.
The industrial growth rate rose steadily throughout the year, with a growth rate of 9.3% in December alone, the highest in the year. The main industrial industries remained basically stable growth while the production and sales of construction materials and pharmaceuticals continue to boom. Metallurgy, light industry, machinery, and electronics reported generally stable growth.
Affected by factors such as market demand, falling prices of raw materials, and environmental and safety constraints, the growth rate of the textile industry and petrochemical industry has fallen slightly.
Among the key industries monitored, traditional industries such as construction machinery, shipbuilding and emerging industries such as rail transit and photovoltaics have seen rapid growth.
10 of the 13 prefecture-level cities in Jiangsu saw higher industrial growth rates than the provincial average, which has a significant supporting effect on Jiangsu's industry.
In 2019, Jiangsu increased its industrial investment by 3.9% and industrial technological transformation investment by 8.6%.
The 402 projects included in the annual provincial key industrial investment plan have completed the planned investment by 120.7%.
The 863 projects in the advanced manufacturing clusters completed 111.4% of the annual plan. Rapid progress was reported with new displays, integrated circuits, the Internet of Things, automobiles and auto parts sectors.
Data show that in 2019, new progress has been made in the high-quality development of Jiangsu's industry. The energy consumption per unit of GDP declined by more than 3%, and the energy consumption per unit of industrial added value fell by about 5%.
(Source:ourjiangsu.com)
