East China’s Jiangsu province recorded a year-on-year growth of 5.2% in the completed amount of fixed assets investment, 0.2 percentage points higher than that in the first quarter, and a year-on-year growth of 10.6% in manufacturing investment, 5.4 percentage points higher than the total investment, the provincial statistics bureau said on Wednesday.
Jiangsu recorded a growth rate of over 30% in investment in the electrical machinery and equipment manufacturing industry, as well as automobile manufacturing, further enhancing the contribution of large investment projects to investment growth.
From January to May, Jiangsu recorded over 10% year-on-year increase in projects under construction with a single investment of over 1 billion yuan, stimulating a 3.3 percentage point increase in total investment and contributing over 60% to investment growth.
In Yancheng High-tech Industrial Development Zone, the first phase of the 3-billion-yuan 5GWh Yuanhang Jinli New Energy Storage Battery Project has produced lithium iron phosphate new energy storage cell products with high energy density, efficiency of over 95%, cycle life of more than 10000 times, enabling its overall technology to have reached the international advanced level since it was put into operation in May.
“Our project is expected to achieve an annual revenue of 4 billion yuan. The local government provides strong support and assistance, as well as certain support in equipment subsidies, factory leasing, and related taxes. We have increased the annual production capacity from the original design of 2 GWh to 5 GWh, doubling the overall output value and contribution to the local region”, Liu Haobo, General Manager of Jiangsu Yuanhang Jinli New Energy Technology Co., Ltd., said.
“Since the beginning of this year, various regions in the province have actively expanded effective investment, and industrial investment has maintained a good trend of sustained and stable growth, especially the rapid growth of investment in high-tech industries. The construction of a large number of high-tech industry projects has played an important supporting role in the development of 16 advanced manufacturing clusters and 50 key industrial chains in Jiangsu”, Shi Jinhua, Deputy Director of the Investment Department of Jiangsu Provincial Department of Industry and Information Technology, said.
As of the end of June, the 500 provincial-level major industrial projects have completed 60.9% of the annual planned investment, which is 1.7 percentage points higher than the same period last year. In the first half of the year, Jiangsu started construction on 149 large investment projects, and 31 have been completed. These provincial-level major industrial projects, with high-tech industries as the main body, serve as a source of stable growth and high-quality development, promoting "Made in Jiangsu" to climb to the top of the global industrial pyramid.
