Covering a planned area of 50 square kilometers, the Baoying Economic Development Zone (江苏宝应经济开发区) was among the first batch of Jiangsu's provincial-level development zones.
It has formed an industrial cluster with the intelligent electric transmission and transformation devices and photovoltaic manufacturing industry as the lead sector, and the intelligent manufacturing and auto parts industry as a supplement.
A total of 675 projects have entered the zone, with gross investment of more than 70 billion yuan ($10.6 billion). The general output of Baosheng Group exceeded 20 billion yuan and its branch company, Baosheng Science and Technology Innovation Co, was listed and increased issues in stocks.
The zone has two provincial-level and four municipal-level academician workstations, one national and four provincial post-doctoral workstations, 36 provincial-level research and development (R&D) centers, and one industrial design center. Five enterprises among the Fortune Top 500 and 54 high-end new technological enterprises have settled in the zone.
With the approval of the Jiangsu Provincial Government, Yangzhou and Shanghai joined hands in 2016 to build the Shanghai Xinzhuang Industrial Zone Baoying Industrial Park.