Small and medium-sized enterprises in Jiangsu province posted faster economic growth rate than the provincial average in the first half of this year, the provincial department of industry and IT said on Wednesday.
Jiangsu registered 44720 SMEs above designated size as of the end of June, a gain of 298 from a year ago and accounting for 97.8% of the province’s total industrial enterprises above designated size.
From January to June, the province's SMEs posted 1.2% year-on-year increase in the total output value, 2.7 percentage points higher than that from January to May, and 1.6 percentage points higher than the province's industries above designated size.
By the end of June, 12,811 SMEs suffered losses of varying degrees, a drop of 382 from January to May, accounting for 28.6% of the total and 1 percentage point lower from that in the January-May period.
Soon after the onset of the COVID-19 pandemic early this year, Nanjing Economic and Technological Development Zone took the lead in the country in chartering flights to pick up employees in various parts of the country so as to ensure speedy resumption of work and production.
Jiangsu Casidilly Clothing Co., Ltd was granted more than 60 million yuan in credit loan for the production of more than 1 million pieces of protection clothing.
Cong Jinlin, chairman, Jiangsu Casidilly Clothing Co., Ltd
60 million funds can be used for transformation, big data, online and offline businesses, including the transfer of technical services. We turned the crisis into an opportunity, as is evidenced by the growing sales by about 30% in the first half of the year.
Casidilly is not alone. In the February- May period, 663000 SMEs in the province were granted 310 million yuan in credit loans. 82000 SMEs were given their first time loan grant. Nearly 40,000 SMEs postponed their tax payment totaling 6.9 billion yuan. 44.91 billion yuan in social insurance premiums were exempted for SMEs. 5.94 billion yuan in unemployment insurance and job stability subsidy were granted to 580000 enterprises and 10.82 million employees.
Li Qiang, deputy director, provincial department of industry and IT
The provincial government has released 22 preferential measures to help SMEs battle the pandemic and ensure that the market players can survive the pandemic by turning crisis into opportunities.
Nanjing Vazyme Biotech Co. Ltd. independently developed a variety of core technologies of immunodiagnosis and molecular genetics diagnosis, directional transformation of more than 30 kinds of enzymes targeted and precise mutations, and manufactured monoclonal antibodies that have reached the international leading level.
Early this year, Vazyme Biotech was the first to develop a joint detection kit for COVID-19 pandemic antibody in China, enabling it to report 1 billion yuan of sales in the first half of the year.
Niu Yingbo, Marketing Director of Vazyme Biotech
We completed molecular detection reagents, including antibody detection reagents, within one month, which expanded our production capacity by one hundredfold and met the domestic and foreign demand for this product.
