East China’s Jiangsu province has actively responded to the adverse effects of the COVID-19 pandemic, while enhancing the independent controllability of the industrial chain and supply chain, accelerating the cultivation of strategic emerging industrial clusters so that the strategic emerging industries grew against the adversities last year, becoming an important engine for accelerating economic recovery.
In 2020, the COVID-19 pandemic exerted a huge impact on the world economy but brought new development opportunities to the biomedical industry.
Biopharmaceutical companies in Jiangsu seized the opportunities to strengthen scientific research so that pharmaceutical innovation entered an explosive growth track.
At the end of December last year, the innovative drug developed by Lianyungang Hengrui Pharmaceutical for the treatment of recurrent ovarian cancer was approved for marketing.
Lianyungang now has 12 home-made Class 1 new drugs, ranking first among all cities in the country.
Suzhou Cinda Biotech saw its market value exceed 100 billion Hong Kong dollars for the first time. The company achieved 4 highly targeted monoclonal antibody products approved for listing in just 9 years.
Strategic emerging industries have intensive knowledge and technology, great growth potential, and good overall benefits. They are the key areas for cultivating new development momentum and gaining new advantages in future competitiveness.
In recent years, Yancheng has focused on the electronic information industry. The invoice sales of the electronic information industry from January to October last year reached 56.239 billion yuan, a year-on-year increase of 32.12%.
In the past year, Jiangsu accelerated the layout and development of strategic emerging industries, gained new advantages in core industrial development, and established special funds for the development of strategic emerging industries. By the end of 2020, a total of 8.6 billion yuan had been allocated.
In the meantime, Jiangsu has introduced 15 policy measures and action plans in areas such as integrated circuits, car networking, and high-end equipment so as to plan ahead and promote economic growth.
As of November 2020, the output value of Jiangsu's strategic emerging industries accounted for 37.5% of industries above designated size, an increase of 4.2 percentage points from the end of 2019, and promoting the increase in the proportion of the output value of the high-tech industries by 2.4 percentage points.
