Rudong industries post 21% increase in revenue

Taxable sales revenue from industries in Rudong county in Nantong, East China's Jiangsu province was up 21.1 percent, rising to 1.43 trillion yuan ($21.07 billion) in 2018, announced Chen Huiyu, deputy head of the county during his presentation of annual work report on Jan 22.

The county has made continuous efforts in promoting the development of the real economy since the start of last year.

A service mechanism has been launched to help large-scale companies to expand. The county has established a 1 billion yuan investment fund to support major programs on technological innovation.   

According to the county, 64 local companies have obtained the designation of national high-tech companies. High-tech companies now account for 44 percent of the industries in the county.

The increase in taxable sales revenue comes as a result of the county's firm support mechanisms that see its business policies executed, said Yuan Weihua, deputy director of the local department on small and medium enterprises.

By the end of 2018, there were 182 companies with taxable revenue over 100 million yuan in the county, four of which had achieved over 2 billion yuan.

The construction and operation of major projects involving new materials, medical equipment, and natural gas have served as engines to drive the strong growth of industrial economy of Rudong county.

Statistics show that 11 projects with a total investment of 10.1 billion yuan started construction last year in the county and 100 new projects were put into official operation.