In the first quarter, Jiangsu recorded a stable recovery of its industrial economy since last year, with industrial growth rates higher than the national average and ranking among the top in the country’s eastern provinces.

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In the first quarter, the added value of industries above designated size in the province increased by 5.5% year-on-year, an increase of 1.6 percentage points compared with The January-February period. In March, the added value of industries above designated size increased by 8.4%, accelerating the recovery significantly.

70% of the 40 industrial industries reported growth, an increase of 12.5 percentage points from the January-February period, and nine out of the top ten industries reported positive growth.

Statistics show that the new energy industry led industrial growth in the first quarter, with the manufacturing of lithium-ion batteries, photovoltaic equipment and components, and the manufacturing of new energy vehicles reporting an increase of 31.8%, 36%, and 59.2% in added value.

Charging stations, photovoltaic cells, and new energy vehicles reported production growth of 160%, 48%, and 50.2%, respectively.

Changzhou recorded a new energy industrial output value of over 150 billion yuan in the first quarter, an increase of 22.7% compared with the previous year, promoting the city"s industrial development to maintain a strong momentum.

Thanks to the key support policies of governments at all levels for the new energy industry, enterprises in Changzhou have continuously increased their efforts in new product research and development.

Jiangsu Huapeng Transformer Co., Ltd. has become a global supplier to Tesla Energy, Siemens Energy, and Spanish Power by investing 4% of its annual sales revenue in new product development. In the first quarter, it reported an increase of 54% in its new orders.

“Our advantage in delivering now is that US-based companies may take about a year to deliver the products, but we can deliver in two to three months,” said Sun Lijun from Jiangsu Huapeng Transformer Co., Ltd.

Since the beginning of this year, enterprises in Jiangsu have reported a stronger willingness to drive innovation. In the first quarter, the R&D expenditure of over 1000 key high-tech enterprises monitored increased by 5.1%, and the proportion of high-tech industry output value reached 49.2%.

Jiangsu has also strengthened monitoring and analysis of key regions, fields, and industries, by giving timely warning of new situations in economic operation, and continued to improve autonomy and controllability for 16 key industrial clusters and 50 industrial chains.

According to industrial electricity and logistics statistics, Jiangsu reported accelerated recovery of industrial economic operation. Market expectations have significantly improved, with the manufacturing industry prosperity index above the boom and bust line for two consecutive months. The growth rate of industrial investment has rebounded, and in the first quarter, 500 major industrial projects in the province completed 30% of the annual investment plan, exceeding the progress by 5 percentage points.

“Since the beginning of this year, driven by multiple factors such as the cultivation of independent innovation and advanced manufacturing clusters, intelligent transformation and digital transformation, as well as the construction of large projects, Jiangsu has maintained restorative growth in its industrial operation, and various regions have strengthened monitoring and scheduling of operation conditions, providing services for major industrial projects, cultivating new growth points, continuously enhancing the autonomy and controllability of key industrial chains, and laying a solid foundation for the continuous improvement of industry in the next stage,” said Li Feng, Deputy Director of the Department of Industry and Information Technology of Provincial Government.

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