East China’s Jiangsu province reported steady industrial investment growth and rapid industrial rebound of high-tech investment in the first quarter of the year, which has in turn propped up strong economic recovery, shored up enterprises’ confidence in development, and fueled the high-quality growth of large industrial projects.
In the first quarter, the province's industrial investment increased by 19.5% year-on-year, a 49.5 percentage point increase from the same period last year. Investment in high-tech manufacturing increased by 30.9% year-on-year.
514 major industrial projects invested 87.5-billion-yuan, accounting for 27.6% of the scheduled investment for the whole year and ahead of the schedule by 2.6 percentage points.
Since the start of this year, the demand for semiconductor on the international and domestic market has increased by about 20%, filling up corporate orders but the COVID-19 has succumbed chip supply to foreign companies.
The semiconductor and smart terminal industries in Yancheng High-tech Zone have taken the initiative to introduce chip design, R&D, and manufacturing projects.
The Konka memory chip packaging and testing project, with an investment of 2 billion yuan, has completed the production line equipment debugging and started trial production.
Liu Jiahan, General Manager of Konka Core Cloud Semiconductor Technology (Yancheng) Co., Ltd.
The entire project is expected to be put into production in November with sales expected to reach 1 billion next year. We will invest 5% of our sales revenue every year in the development of technology and the research and development of new storage products.
In the national petrochemical industry base in Lianyungang, Shenghong Refining and Chemical Integration Project, reported mid-term delivery of the first-level ground management project for chemical and refining chemicals. The Shenghong project boasts an annual capacity of 16 million tons.
Yu Huiyong, General Manager of Shenghong Refining & Chemical (Lianyungang) Co., Ltd.
According to the plan the Shenghong Refining and Chemical Integration Project will complete the delivery of the atmospheric equipment in June start the trial run of crude oil in August and put it into production in December.
The project can increase annual sales revenue of 90 billion yuan
Jiangsu is now accelerating construction on three-quarters of the 514 major industrial projects.
In the meantime, more than 100 large industrial projects have broken ground. They include Suzhou Mason Medical's anti-tumor technology localization project, Changzhou Trina Solar's large-size photovoltaic cell expansion project, Yangzhou China Mobile Yangtze River Delta Data Center.
