500 major industrial investment projects in east China’s Jiangsu province completed their annual investment targets 2 months ahead of schedule, according to statistics released by the provincial department of industry and information technology.
The latest statistics from the Provincial Department of Industry and Information Technology shows that as of the end of October, Jiangsu has completed 103.2% of the annual investment plans for 500 major industrial investment projects, and 13 prefecture level cities have exceeded the scheduled progress in completing investments, achieving their annual investment targets ahead of schedule.
The investment in manufacturing industry plays an important role in Jiangsu's investment layout. From January to October, Jiangsu recorded a 9.6% increase in industrial investment and a 9.8% year-on-year increase in manufacturing investment, 0.7 and 3.6 percentage points higher than the national average, and also faster than the GDP growth rate during the same period.
Major industrial projects have become a key driving force for supporting current economic recovery and leading future transformation and upgrading.
Hydrogen energy is hailed as the ultimate green energy source. The fuel cell oil-free air compressor, the core component of the hydrogen power battery independently developed by XecaTurbo Technologies Rugao Co., Ltd. is expanding its new factory building and production capacity. The new product is scheduled for launch next year, and orders are now fully filled.
The core components of this hydrogen energy engine used to rely on imports, costing over 400 thousand yuan per unit. XecaTurbo's products have reduced costs to 100 thousand yuan per unit, which is of great significance for improving the security of China's hydrogen energy industry chain.
“The industrialization project of oil-free air compressors has enabled this air compressor to replace imported goods, ranking first in the domestic air compressor market share for three consecutive years, and receiving orders from Prag, Barag, and Toyota on the international market. At present, the 50 thousand oil-free impeller air compressor project is about to be completed, which is expected to double the company's production capacity and output value,” said Gao Yue, Deputy General Manager of XecaTurbo Technologies Rugao Co., Ltd.
492 of the 500 provincial-level major industrial projects Jiangsu has implemented this year are advanced manufacturing projects in Jiangsu's key development plan, including wind power equipment, photovoltaic modules, new energy vehicles, and batteries in Yancheng.
80% of the newly added projects in Changzhou this year are concentrated in the new energy field, with the new energy industry clustering ranking among the top three in the country and the investment heat ranking first in the country. In the first ten months, Changzhou's new energy industry has achieved invoiced sales of over 660 billion yuan, a year-on-year increase of about 20%, stimulating the city's industrial growth to lead the Jiangsu South region.
Jiangsu has formed a virtuous cycle of major industrial project construction, becoming a new engine for high-quality development. In the Dafeng Port Economic Development Zone, the Zhongtian Dafeng submarine cable project with a total investment of 2.5 billion yuan has been put into operation, and the products will soon be sent to the construction site of the Guoxin Dafeng offshore wind power project.
“Since the beginning of this year, we have produced and shipped over 100 kilometers of submarine cable products, with sufficient orders in hand and good business prospects,” said Chen Jie, General Manager of Zhongtian Dafeng Submarine Cable Co., Ltd.