East China’s Jiangsu province reported a 6.7% year-on-year investment increase in the first three quarters of this year due to the province’s efforts to provide excellent service, build platforms, expand effective investment, and continue to improve the investment structure.
Located in Liyang District, Changzhou City, Jiangsu Times Power and Energy Storage lithium battery production invested 12 billion yuan at the beginning of this year for the expansion of phase 4 project.
Upon its operation, the phase 4 project will come up with an annual output of 30 GWh of power and production capacity of energy storage lithium electronic battery, which can provide the power for 300 thousand to 600 thousand new energy vehicles a year.
Statistics show that in the first three quarters, the province reported a 6.7% increase in fixed asset investment year-on-year, an increase of 1.2 percentage points from the first half of the year.
As of the end of September, 90% of the major provincial projects have completed investment, and 82.6% of new projects have started construction as planned, which is faster than expected.
In the meantime, various parts of the province have launched targeted investment promotion for the industrial chain, attracting the settlement of a large number of projects.
The Nanjing Golden Autumn Economic and Trade Fair witnessed the signing of 62 major projects with a total investment of more than 300 billion yuan, and more than half were advanced manufacturing projects. The Xuzhou Investment Fair witnessed the signing of 43 major projects.
Large projects and high-quality projects in the field of high-tech industries are becoming the strong engine for the province’s economic development. In the first three quarters, Jiangsu reported a year-on-year increase of 27.3% in high-tech industry investment, which was 20.6 percentage points higher than all investment and stimulated an increase of 3.9 percentage points in all investment.
In the meantime, the province reported 38.9 thousand approved projects at the end of September, a year-on-year increase of 16.9%, indicating strong stamina for investment growth.
