East China’s Jiangsu province reported a 2.1% year-on-year increase in the added value of industries above designated size in the first half of the year, according to the latest industrial economic operation report released by the Provincial Department of Industry and Information Technology.
Affected by the resurgence of the covid-19 epidemic in April, Jiangsu encountered a sharp decline in industrial growth rate. With the improvement of the epidemic prevention and control situation and the effective measures to stabilize the economy, the province reported a 2.5% year-on-year growth in the added value of the manufacturing industry.
The province's industrial economy bottomed out in May and rose by 6.1% in June, basically returning to a reasonable operating range.
Lithium batteries produced by Gateway Power Jiangsu Co., Ltd. in Yancheng Economic and Technological Development Zone will be sent to Chery Automobile’s plant in Wuhu city, Anhui Province.
With production orders filled, the company has been kept working at full capacity in three shifts 24 hours a day.
Guo Liang, Head of Production and Operation of Gateway Power Jiangsu Co., Ltd.
"In the first half of this year,raw materials and energy rose by 30-40% year-on-year,eating up all our profits and causing great difficulties in our cash flow.The tax department helped us handle the VAT refund of 85 million yuan,plus various other subsidies of more than 100 million yuan,so that our production capacity is full and the order is scheduled for next year."said Guo Liang, Head of Production and Operation of Gateway Power Jiangsu Co., Ltd.
Industrial production in key areas and key industries in the province has witnessed accelerated recovery from the acceleration of the process of resumption of work and production of industrial enterprises, and the package of policies to stabilize the economy are effective.
In the first half of the year, the added value of industries above designated size in southern Jiangsu, central Jiangsu, and northern Jiangsu increased by 1.2%, 4.9%, and 5.2% year-on-year, respectively.
Southern Jiangsu saw its growth rate of 0.9 percentage points lower than that of the province's industries above designated size, but reported significantly accelerated recovery momentum of industrial production since April.
With the easing of the epidemic, Pegatron Electronics (Kunshan) Co., Ltd. has strengthened the resumption of work and production to enable full production.
Pan Congming, Deputy General Manager of General Management Office of Pegatron Electronics (Kunshan) Co., Ltd.
"It is expected that the annual output value of this year will increase by between 10% and 20% compared with last year."said Pan Congming, Deputy General Manager of General Management Office of Pegatron Electronics (Kunshan) Co., Ltd.
With the help of a series of preferential policies and high-quality services, from January to June, Kunshan reported an industrial output value of 481.63 billion yuan. In June, the output value exceeded 100 billion yuan, setting a historic high with a year-on-year increase of 15.3%.
Li Feng, Deputy Director of the Provincial Department of Industry and Information Technology
"We have implemented a series of policies to benefit enterprises issued by the national and provincial governments.As of June,Jiangsu has provided enterprises with 270 billion yuan in tax rebates,tax reductions and tax relief,helping enterprises to solve difficulties,supporting the transformation and upgrading of enterprises and strengthening the industrial chain,and accumulating momentum for future development."said Li Feng, Deputy Director of the Provincial Department of Industry and Information Technology.
Thanks to its persistent support for transformation and upgrading, Jiangsu reported a 9% year-on-year increase in the added value of high-tech manufacturing in the first half of the year, 6.9 percentage points higher than the growth rate of industrial enterprises above designated size.
The added value of the electronics and communication equipment manufacturing industry accounted for 60.9% of the high-tech manufacturing industry by contributing 77.8% to the growth of the high-tech manufacturing industry's added value and stimulating the growth of the high-tech manufacturing industry's added value by 7 percentage points.
