East China’s Jiangsu province has in recent years promoted provincial-level enterprises to expand investment in transportation, energy and strategic emerging industries through reform and innovation in order to continuously optimize the layout of state-owned capital and better serve the province’s economic and social development.
Seen from the air, the Liyang Pumped Storage Power Station on the upper reaches of Tianmu Lake is like a piece of jasper inlaid in the mountains.
Built by Jiangsu Guoxin Group, it is the largest pumped storage power station in the province with a total installed capacity of 1.5 million kilowatts and a designed annual power generation capacity is 2.007 billion kWh.
The pumped storage power station has provided an important guarantee for the safe and stable operation of the power grid. It has also eased the tension in electricity consumption and improved the surrounding ecological environment.
As the largest energy investment entity in the province, the power plants invested by the Guoxin Group supplies 50% of the province's electricity.
In June last year, the Guoxin Group, which has nearly 20 years of history, was turned into a pilot of state-owned capital investment and operation company in a bid to continue to play an investment-oriented role in the new round of reforms and accelerating the pace of global presence in the energy sector. It has acquired the controlling stakes in the Shanxi Energy Project to ensure power transmission from Shanxi to Jiangsu to further ease the pressure on power consumption in Jiangsu.
The provincial-level enterprises have played an increasingly important role in financial development and transportation expansion in recent years.
The three toll gates on the Huai’an section of the Beijing-Shanghai expressway resumed service recently, signaling the completion of the first phase expansion of the expressway. The second phase expansion, which stretches over nearly 260 kilometers, has got underway recently.
Jiangsu Transportation Holdings Co., Ltd. has arranged an investment of 21.7 billion yuan for the expressway project this year to ensure the smooth progress of the project. The company has also invested a large amount of funds in the construction of transportation infrastructure such as railways and airports. The total investment for the year reached 57.742 billion yuan, an increase of 70% over the investment completed last year.
At present, Jiangsu continues to increase the investment of state-owned capital in key industries, key sectors and advantageous enterprises. The provincial-level enterprises reported an investment of 56.768 billion yuan in 2018, an increase of 20.93% year-on-year. 99.49% of the investment is concentrated in infrastructure, energy resources, modern service industries, strategic emerging industries, etc.
The province will invest more than 50 billion yuan in order to promote the province’s high-quality development.
