NETDA sees rapid growth in industrial development

The Nantong Economic and Technological Development Area (NETDA) in East China's Jiangsu province, has achieved significant progress in its industrial growth over the past 10 years. 

In the first half of this year, the output value of NETDA's four pillar industries – high-end equipment, new-generation information technology, healthcare and new energy – increased by 5.8 percent, 48 percent, 91 percent and 184 percent, respectively, official statistics show. 

Founded in 2006, Nantong Reshine New Material Co Ltd is one of the outstanding contributors to the growth of NETDA's booming new energy sector. 

Reshine, which specializes in the research and development of cathode material for lithium ion batteries,  paid  over 20 million yuan ($2.79 million) in taxes last year and it is expected to pay 70 million yuan in taxes this year. 

It would not have been possible for Reshine to achieve this without the local government's support, which included subsidies and support in recruiting professionals, when its business hit rock bottom in 2015. 

In addition, authorities in NETDA have during the same period been striving to build a complete industrial chain that covers electrolyte, cathode material, battery packaging and energy storage application. 

NETDA is currently home to major upstream and downstream new energy enterprises, including Capchem, Senior Material, that are engaged in fields such as lithium ion batteries, photovoltaic and hydrogen energy. 

Authorities have also established special teams to speed up the building of 100-billion-yuan industrial clusters in NETDA's pillar industries.