State-owned enterprises in east China’s Jiangsu province reported sustained growth in the first half of this year to lessen the impact of the COVID-19 on their business operation.
In the first half of the year, SASAC-supervised enterprises at the provincial and prefectural levels reported 431.273 billion yuan in total revenue, a year-on-year increase of 0.6% and 46.039 billion yuan in total profits, a year-on-year decrease of 12.9%.
The Six Clouds intelligent transportation platform developed by Jiangsu Transportation Holding Co., Ltd. integrates scheduling, service and internal control in one system.
Through the WeChat public account, users can view the video surveillance installed on more than 4,600 kilometers of highways across the province in real time.
Highway tolls were significantly reduced in the first half of the year under the impact of COVID-19 pandemic. Jiangsu Transportation Holding Group relied on this intelligent transportation service platform to form a new profit growth point.
They also reached strategic cooperation with giants such as Tencent Technology, Genvict Technology, and China Tower Group to promote transportation application scenarios based on 5G networks. As of the end of June, the company had registered 10.38% and 8.32% in the year-on-year increase in the total assets and net assets from the beginning of the year.
Yuan Mengyao, Deputy Director of Information Center, Jiangsu Transportation Holdings Co., Ltd.
"We use a kind of Internet thinking to make Internet products and the entire cloud-network integration architecture is the first of its kind in the industry," said Yuan Mengyao, Deputy Director of Information Center, Jiangsu Transportation Holdings Co., Ltd..
Wang Mingwen, Chairman of Jiangsu Tongxingbao Smart Transportation Technology Co., Ltd.
"We have made active efforts to introduce social capital, promote the construction of 'new infrastructure' for transportation and continue to meet the people's pursuit of a better life," said Wang Mingwen, Chairman of Jiangsu Tongxingbao Smart Transportation Technology Co., Ltd..
The provincial foreign trade group accelerated the construction of an international marketing network and developed cross-border e-commerce export business. In June alone, the company registered a year-on-year increase of 5.72% in its export volume.
Yangzhou Arts and Crafts Group expanded its online business and introduced traditional crafts such as lacquer carving and paper-cutting into the livestreaming room, spurring online sales by nearly 70% year-on-year.
Liu Guangming, CEO, Yangzhou Arts and Crafts Group
"We look for business opportunities in the crisis, increase the use of new models and new media such as speeding up livestreaming and short video, give full play to the promotion role of state-owned enterprises, and accelerate the stimulation of the creative cultural market in Yangzhou," said Liu Guangming, CEO, Yangzhou Arts and Crafts Group.
While spearheading the province’s innovation-oriented development, state-owned enterprises in Jiangsu have given full play to their role of being the pillars of the national economy to take the lead in the resumption of work and production in various fields.
Construction on six railways is in full swing. The Shanghai-Nantong railway bridge was opened to traffic as scheduled. The T1 terminal building of Nanjing Lukou Airport was put into operation in July.
In the first half of the year, the provincial SOEs registered 57.7 billion yuan in total investment, much higher than the amount in the same period of last year, stimulating the market and boosting confidence.
Tang Yanping, Director of the Financial Supervision Department of Jiangsu SASAC
"We have overcome the impact of the epidemic and accelerated the construction of these projects to drive the resumption of work and production in the relevant industrial chain, boosting confidence in the social and economic development, and also contributing to stabilizing the province’s economic essentials," said Tang Yanping, Director of the Financial Supervision Department of Jiangsu SASAC.
Under the influence of multiple positive factors, Jiangsu's provincial SOEs posted an 8.6% increase year on year in June. SOEs at the prefecture level posted a year-on-year increase of 5.44% in their revenue.
(Source:ourjiangsu.com)
