East China's Jiangsu province reported a year-on-year increase of 8.2% in industrial investment in the January-February period, the provincial department of industry and information technology said on Sunday. The accelerated implementation of major industrial projects across the province has provided solid support for the overall improvement of the province's economic performance.
Last year, Jiangsu completed 113.9% of the investment plan for major provincial industrial projects. Since the beginning of this year, Jiangsu has completed a total of 500 major industrial projects, an increase of 50 over the previous year. The province recorded a total investment of over 1300 billion yuan, an increase of 29.4% over the previous year.
Jiangsu has started construction of a number of advanced manufacturing projects, including Wuxi Xishan Longda Aviation Super Alloy Production and Research Center, BYD Sheyang Power Battery Project, and Toyota Changshu Co., Ltd. Hybrid Electric Vehicle Drive Transmission Expansion Project.
In January-February, Jiangsu started construction of 91 of the 500 provincial-level major projects, accounting for 53.8% of this year's plan. The province completed an investment of 58.60 billion yuan, accounting for 18.6% of the annual planned investment.
At the same time, a number of major projects have been completed and put into operation, becoming new growth points in various regions. The project of Huai'an Nanjing High Speed Gear Group is expected to contribute more than 2 billion yuan of output value to the local economy.
Major investment projects including Taizhou Longji Photovoltaic Battery and Module Project and Wudeli Flour have promoted the city’s significant industrial growth.
Stimulated by major industrial projects, Jiangsu recorded a year-on-year growth of 8.2% in industrial investment from January to February, 3.7 percentage points higher than fixed assets investment, laying the foundation for stable industrial growth in the province.
