CHINA / Invest in Jiangsu

Four mainstay industries of economic development in Jiangsu
(jschina.com)
Updated: 2006-05-25 11:16

In line with the process of economic development, Jiangsu will continuously spur and expand its four pillar industries, i.e. machinery, electronic, chemicals and automobile during the 9th Five-year Plan period. Industries above mentioned have enjoyed large markets and high market share. These industries had obvious advantages and characteristics not only in their production quantity, but also in their products quality, technology-exploitation, creative ability and sales system.

The output of machinery industry in Jiangsu ranked first in our country in 1995. During the 9th Five-year Plan period, numerical controlled machine tool and numerical controlled system, engineering and construction machinery, farming machinery, motive power machinery and complete sets of special purpose machinery will be the emphasis of the development in Jiangsu. By the end of the 9th Five-year Plan period, the added value of machinery industry will have reached RMB 123 billion yuan with a growth rate of 14% per year and will have reached 13.5% of the GDP of the whole province.

The output of the electronic industry ranked second in our country in 1995. During the 9th Five-year Plan period, Jiangsu will accelerate its technological development; actively develop sino-foreign cooperation and joint ventures; promote the industrialization of new and high-tech products, digitization of video and audio products and integration of components. Jiangsu will also lay emphasis on the development of modern telecommunication facilities, computers, software and new style digitized electronic consumption goods for family use. By the end of the 9th Five-year Plan period, the added value of electronic industry will have been RMB 27 billion yuan with a growth rate of 22% per year, reached 3% of the GDP of the whole province.

The output of chemical industry in Jiangsu ranked second in our country in 1995. During the 9th Five-year Plan period, the emphasis will be laid on the development of petrochemical and fine chemical industries. With alkene and aromatic hydrocarbon as the main raw materials, Jiangsu will accelerate the development of synthetic organic chemical materials, driving the development of fine chemicals. By the end of the 9th Five-year Plan period, the added value of chemical industry will have been RMB 67.5 billion yuan with a growth rate of 16% per year and have reached 7.5% of the GDP of the whole province.

The output of auto industry ranked forth in our country in 1995. During the 9th Five-year Plan period, auto industry will adhere to the guiding principle of starting at a high point, large batch quantity, specialization and high quality, import foreign advanced technologies, vigorously utilize foreign investment, speed up the cooperation and joint venture with large foreign corporations and accelerate the unification and restructuring within these industries to form an economy of scale. The key products to be developed are light and mini vehicles, large and medium size coaches, motorcycles and key part of vehicles and motorcycle such as engines, casting and forging. By the end of the 9th Five-year Plan period, the added value of auto industry have been RMB 22.5 billion yuan with a growth rate of 27% per year and have reached 2.5% of the GDP of the whole province.