Industrial investment sees increase in first three quarters

Yangzhou's industrial investment increased by 11.1 percent in the first three quarters compared with the same period of last year, ranking third in Jiangsu province, according to statistics released by the Yangzhou Municipal Economic and Information Technology Commission on Nov 13.

A total of 43 major industrial projects started their construction in the first 10 months of 2018, including 32 in the advanced manufacturing industry, accounting for 74 percent of the total.

The average investment in the equipment of 43 projects reached 75.64 million yuan ($10.9 million) in the first 10 months with a year-on-year increase of 13.66 million yuan.

A policy released by the Yangzhou government this year about constructing seven clusters in the advanced manufacturing industry contributed significantly to the rapid development of the city's manufacturing development, said Xu Lixin, an official from the Yangzhou Municipal Economic and Information Technology Commission.

Projects in strategic emerging industries such as semiconductors, hydrogen resources and lithium batteries also gained momentum, boosting the development of the local economy.

Thanks to the promotion fairs held in cities such as Beijing and Shanghai, a batch of industrial projects have settled down in Yangzhou including the East China battery base of Fengfan Co Ltd, a company managing battery business subordinated to China Shipbuilding Industry Co Ltd.