East China’s Jiangsu province has stepped up the construction of major investment projects and ensured their smooth progress through every possible effort so as to fulfill goals for social and economic development. JSBC has the story.
According to statistics from the Provincial Department of Industry and Information Technology, from January to July, Jiangsu recorded a year-on-year increase of 9.8% in industrial investment and a 10.7% increase in manufacturing investment, which are 1.3 and 5.0 percentage points higher than the national average.
Jiangsu recorded a double-digit increase in investment in advanced manufacturing. The number of projects under construction worth over 1 billion yuan has increased by over 10% year-on-year, contributing over 60% to the province’s investment growth.
Large projects have made a significant contribution to stabilizing growth, and have also played a role in supplementing and strengthening the key emerging industry clusters in Jiangsu.
SK New Energy Jiangsu Co., Ltd., with a total investment of 4.54 billion US dollars, is the world's largest and most technologically advanced leading project by SK Corporation in South Korea. The first phase of its 27GWh production line's product is SK's globally pioneering research and development of green lithium electronic soft pack power batteries.
Due to the use of high nickel positive electrode materials and innovative ceramic coated separators, SK's green lithium-ion battery can fully charge 80% in 18 minutes and has a range of over 400 kilometers. SK is currently installing Phase II equipment for 30GWh energy storage and battery cells, and is expected to be put into trial production in October.
“From January to July, our production capacity increased by 83% year-on-year, and invoicing sales increased by 131% year-on-year. We will strive to generate over 20 billion yuan in annual invoicing sales revenue. In the next step, we will continue to actively fulfill our contributions to social and environmental benefits, and continuously pursue innovation and breakthroughs to lead industry change”, Liu Dong, CMO of SK New Energy (Jiangsu) Co., Ltd., said.
The production of SK's green power batteries has further consolidated Jiangsu's global advantage in manufacturing new energy power batteries and made the emerging new energy vehicle industry chain more perfect.
Since the beginning of this year, Jiangsu has recorded an increase of about 28% in the added value of new energy power batteries and an increase of up to 85% in the added value of new energy vehicles, making the NEV sector becoming an important force for the province's economic recovery growth and structural optimization.
“We have optimized policy supply, introduced a series of policies to promote high-tech transformation, and optimized factor supply, prioritizing major industrial projects in terms of land and funding factors. In the meantime, we have scheduled this year's key industrial projects on time, opened up green channels, in order to give full play to the supporting role of the manufacturing industry in stabilizing growth, and accumulate strength to enhance the comprehensive competitiveness of enterprises”, Zhang Xing, Deputy Director of Jiangsu Provincial Department of Industry and Information Technology, said.
As of the end of July, 500 provincial-level major industrial projects have completed 69.7% of the annual planned investment, exceeding the schedule by 11.4 percentage points and 2.2 percentage points higher from the same period last year.
Stimulated by large-scale investment projects, Jiangsu has maintained stable industrial growth and continued to increase the proportion of high-tech industries in industries above designated size since the beginning of this year with remarkable momentum of high-quality development.
