East China’s Jiangsu province reported a year-on-year growth of nearly 20% in its fiscal revenue from January to February, according to statistics released by the Provincial Department of Finance.
Kunshan Xinlai Clean Applied Materials Co., Ltd. is rushing to produce clean pipeline systems and valve control systems for the production of COVID-19 vaccines.
Since the beginning of this year, the company has increased its investment in innovation and made active inroads into the market. The local government department encouraged its employees to stay put for the Spring Festival so that the company can resume production shortly after the festival. The government has also provided incentives and subsidies in accordance with the company’s investment.
Weng Pengbin, Deputy General Manager of Kunshan Xinlai Clean Applied Materials Co., Ltd.
From January to February, Jiangsu reported 201.5 billion yuan in its general public budget revenue, a year-on-year increase of 19.2%.
The province also recorded double-digit growth in value-added tax and corporate income tax, the barometer of industrial production and operating conditions.
Ding Hong, Research Fellow, Jiangsu Academy of Social Sciences
The expenditure on major projects and livelihood product have also maintained growth momentum.
From January to February, Jiangsu recorded 230.2 billion yuan in its general public budget expenditure, an increase of 16.6%. Expenditures in transportation, health, social security and employment have also reported substantial increase, contributing to the stable development of the economy and society.
(Source:ourjiangsu.com)
