Innovation continues to fuel Jiangxi's growth over past decade

East China's Jiangxi province has implemented a development policy to promote its comprehensive strength by boosting its scientific and technological innovation ability since the 18th National Congress of the Communist Party of China in 2012, which has boosted the province's high-quality development.

According to official data, Jiangxi's comprehensive science and technology innovation index moved from 25th place across the country in 2012 to 16th place in 2021, a significant increase of nine places. Its investment into research and development (R&D) increased to more than 50 billion yuan ($6.88 billion) in 2021, an increase of about 3.4 times, ranking among the fastest in China. The R&D spending of Jiangxi accounted for more than 1.7 percent of its GDP, setting a new record.

Official data show that the added value of Jiangxi's high-tech industry accounted for 39.8 percent of the added value of the province's industrial enterprises above designated size in 2021, 16 percent higher than the ratio obtained in 2012. The number of high-tech enterprises increased by 17.7 times from 356 in 2012 to 6,669 in 2021, and the total number of patents granted increased from 7,985 to 97,000 over the past decade, growing by 11.2 times.

Jiangxi JL MAG Rare-Earth Company in Ganzhou responded actively to the province's call to firmly implement the strategy of innovation-driven development so as to achieve high-quality development.

"We have attached great importance to the R&D of new technologies and advancing technological innovation. Over years of development, our company has developed a series of core technologies with independent intellectual property rights," according to Lyu Feng, vice-general manager of JL MAG.

This progress has come from the company's increasing investment in scientific and technological innovation.

Official data showed that in 2021, its R&D input reached 160 million yuan, increasing by 55.23 percent year-on-year, and currently, JL MAG owns 26 authorized invention patents.

The achievements made by JL MAG are a vivid epitome of Jiangxi's innovation development in the past 10 years.

Currently, Jiangxi has adhered to the innovation-driven spirit and beefed up efforts to develop itself into an innovative province. As of July 2021, Jiangxi was home to 13 industries worth 100 billion yuan, among which the non-ferrous metal industry ranks first in China and the electronic information industry ranks first in central China.