Nantong accelerates transforming "Innovative Power" into "Productive Forces"

Since entering the trillion-yuan city club in 2020, Nantong's economic output has grown by an average of 5.3% annually over the past four years, ranking 7th among 26 of the trillion-yuan cities nationally. The per capita disposable income of residents increased from 25,300 yuan in 2014 to 51,900 yuan in 2023, with an average annual growth of 8.3%, ranking 2nd in the province.

At a press conference held on July 30th , Nantong's Mayor, Zhang Tong, stated that on the journey of the new era, Nantong is striving to build a modern industrial city in China, focusing on "advancing towards technological frontiers." Last year, 1,428 scientific and technological innovation projects were introduced, and the number of high-tech enterprises increased by 736. The total output value of the six major trillion-yuan industrial clusters surpassed one trillion yuan. Nantong's shipbuilding, maritime engineering, and high-end textile sectors have become part of the national advanced manufacturing clusters. Nantong has been selected as a demonstration city for building a city of high-level intellectual property rights (IPR) and a pilot zone for comprehensive IPR protection.

Nantong's unique position along the rivers and the sea enhances its strategic significance. Currently, Nantong is formulating and implementing plans for the spatial utilization and industrial layout of its coastal areas, developing measures to promote high-quality development of the marine economy, connecting with the provincial marine economy investment fund, and promoting the establishment of a city-level marine development fund. The city is developing advanced manufacturing industries such as new green materials, new marine energy, shipbuilding and marine engineering, marine biomedicine, as well as fisheries and services. Nantong is also actively planning for future industries, including hydrogen, energy storage, deep sea equipment, and the low-altitude economy.

It is reported that in the process of building a modern industrial city in China, and promoting a new type of industrialization, Nantong will strengthen the industrial chain, accelerate the transformation of the six major industries towards strategic emerging fields, refine the innovation chain to transform more "innovative power" into "productive forces," and deepen the value chain by focusing on the high value-added ends of the "smiling curve".