China's Jiangsu to build aerospace industry cluster

NANJING -- East China's economic powerhouse Jiangsu province has issued an action plan to develop a competitive aerospace industry cluster in three years.

The provincial government's development plan sets the target of developing an aerospace industry with an annual output value of over 150 billion yuan ($21.7 billion) by 2025, nurturing more than 50 specialized enterprises, more than 10 innovative platforms and more than 10 aerospace industrial bases with strong competitiveness by that date.

According to the plan, the province will focus on industries supporting the manufacturing of large aircraft, as well as the fields of navigation machines and drones.

An economic heavyweight in the Yangtze River Delta region, Jiangsu is known for its strong manufacturing industry.

The provincial government unveiled dozens of proactive policies earlier this year to bolster fiscal and tax supports for enterprises. It vowed to allocate more than 200 million yuan to the diagnosis of traditional industrial enterprises, and to actively support projects related to high-end transformation and the industrial internet.