Enterprises above designated size in Jiangsu reported growth and sales rebound in the first 7 months of this year. New technologies and new models have brought new growth engines, and the rapid growth of investment in manufacturing, especially in high-tech manufacturing, has paved the way for future development.
The latest statistics from the Provincial Department of Industry and Information Technology show that from January to July, Jiangsu's industrial enterprises above designated size reported a year-on-year increase of 2.7% and 5.7% in added value and operating income.
The growth rate of sales revenue is higher than that of the industry, indicating that the enterprise is in good operating condition with stable production and sales.
The electronics industry showed a good growth momentum, with revenue increasing by 19.3% year-on-year. Light industry, pharmaceuticals, textiles, and markets reported a gradual recovery in demand and petrochemical and machinery industries reported steady growth while growth of the metallurgical building materials industries declined.
The production and sales of new energy vehicles reported 1.8-fold increase in the first seven months, and the sales and profits of the photovoltaic industry increased by 74.9% and 223.3% respectively.
Nanjing Tianjia Environmental Technology Co., Ltd. customized the intelligent environment control room for the subway construction in Ningbo city of Zhejiang province by adopting the full frequency conversion technology of wind and water systems for the first time in China, and at the same time innovatively employing the new model of "manufacturing + service".
This new technology and new model have gained growing popularity with the customers and the company's production and sales increased by more than 25% in the first seven months.
Li Xinmei, General Manager of Fujia Automation Division Nanjing Tianjia Environmental Technology Co., Ltd.
Since the beginning of this year, medium and high-tech industries of enterprises above designated size reported 9% year-on-year increase in the added value, nearly 7 percentage points higher than that of the above-scale industries.
SK New Energy (Jiangsu) Co., Ltd. invested nearly 5 billion US dollars in the first and second phase lithium battery projects, and the supply exceeded demand as soon as they were put into production.
Chen Hongrui, Deputy General Manager of SK New Energy (Jiangsu) Co., Ltd.
From January to July, the province's manufacturing investment increased by 11% year-on-year, and high-tech manufacturing investment increased by 14.7% year-on-year.
According to a sample survey by the Provincial Department of Industry and Information Technology, in August, enterprises across the province reported a continued recovery in invoicing revenue, continuing the positive momentum with a year-on-year increase of about 10%.
