Jiangsu posts steady industrial growth in Jan-Jul

East China's Jiangsu province has recorded steady growth in industrial production from January to July by making unremitting efforts to respond to risks and challenges, and explore domestic and international markets.

The latest industrial operation analysis from the Provincial Department of Industry and Information Technology shows that from January to July, Jiangsu reported a year-on-year increase of 7.2% in the added value of industrial enterprises above designated size with a year-on-year increase of 6.2% in July. Nearly 70% of industries achieved growth, and 27 out of 40 industries saw year-on-year growth.

Technicians of Jiangsu Gudeng Heavy Machinery Equipment Co., Ltd. are busy debugging the "extended range horizontal directional drilling rig" that is about to be sent overseas. By aiming for high-tech, green and low-carbon development, the company has developed this new type of directional drilling rig that replaces fuel with electricity, saving 60% of energy, reducing carbon emissions by 40%, and improving efficiency by 22%. The product has been favored by domestic and foreign markets since its launch, and the company's orders have been scheduled until the end of the year, with a significant increase in overseas market orders.

"We have upgraded and developed new markets through technological innovation products, and our foreign trade has increased by 20%. Foreign trade accounts for 50% of our total factory sales this year, an increase of 20% from last year, to make up for the insufficient domestic demand. It is expected that our sales will grow by 20% for the whole year," said Zong Hua, Manager of Jiangsu Gudeng Heavy Machinery Equipment Co., Ltd.

In July, Jiangsu's equipment manufacturing industry, which has a comparative advantage, recorded a year-on-year growth of 8.1%, contributing 70.5% to the growth of all industrial production above designated size. Eight industries in the equipment manufacturing sector have maintained growth, while the electronics, railway, shipbuilding, and aerospace industries have maintained double-digit growth for seven consecutive months.

The equipment manufacturing industry in Jiangsu accounted for 55% of the country's industries above designated size in the first seven months, an increase of 0.7 percentage points from 2024.

Since the beginning of this year, Jiangsu has continued to promote large-scale equipment renovation and consumer goods trade-in programs. The provincial finance has allocated 400 million yuan to stimulate 24 billion yuan of further investment by enterprises by laying a focus on supporting the renovation of old facilities in chemical and hazardous chemical enterprises. As of now, Jiangsu has completed 247 sets of old facilities and renovations, increasing production capacity by about 6% to 7%.

In July, Jiangsu reported a respective growth of 11.6% and 8.7% in the high-tech manufacturing industry and digital core product manufacturing industry, 5.4 and 2.5 percentage points higher than those of industries above designated size.