East China’s Jiangsu province has continuously promoted the growth of little giant enterprises in the manufacturing industry since the beginning of this year so as to forge stronger competitiveness.
Since the beginning of this year, Jiangsu has added 795 little giant enterprises, accounting for one-fifth of the national total and ranking first in the country, according to a list recently released by the Ministry of Industry and Information Technology. 186 Jiangsu enterprises have become national level single champion enterprises in the manufacturing industry, ranking first in the country.
By investing 90 million yuan on the introduction of the world's most advanced production line, Jiangsu Sheng'an Transmission Co., Ltd. has continuously produced "industrial gears" to be shipped to customers across the country.
The enterprise used to consume a large amount of funds due to the import of equipment, which resulted in the inability to industrialize new energy engine gears.
The district government helped the enterprise obtain a low interest loan from the bank and applied for a special fund subsidy of tens of millions of yuan so that the enterprise was able to roll off the production line its new products.
“We invest 6% of our annual sales revenue in research and development, ensuring that around 20 new products are launched, promoting 30% of our annual sales revenue, and replacing imports”, Zhou Yegang, Chairman of Jiangsu Sheng'an Transmission Co., Ltd., said.
According to statistics, in the past three years, Jiangsu has recorded over 300 billion yuan in tax reductions and tax refunds for small and micro enterprises.
In the first half of this year, Jiangsu promoted the implementation of the intelligent upgrading and digital transformation project for 15000 enterprises with more than 5300 enterprises completing the transformation, resolving the cost pressure caused by the significant increase in raw material and energy prices, leading to a rapid rebound in industrial profits.
In the first half of the year, the operating revenue of small and medium-sized enterprises above designated size accounted for 62.7% of the provincial total, a year-on-year increase of 3.6%. As of the end of June, Jiangsu recorded 4853 new small and medium-sized industrial enterprises above designated size, bringing the total number to over 60000.
