According to a report on Jiangsu's Action Plan of Made in China 2025 by Xie Zhicheng, director of Jiangsu Economic and Information Technology Commission, the scale of Jiangsu's manufacturing sector has been the largest in China for eight consecutive years.
The value added of the industrial enterprises with an annual industrial output value above 20 million yuan in 2017 exceeded 3.5 trillion yuan ($507.28 billion), increased by 7.5 percent, accounting for 12.5 percent of the country's total and contributing to about half of the provincial economic growth. Its total profit was more than 1 trillion yuan, accounting for 14 percent of the country's total.
Jiangsu keeps promoting the adjustment of industrial structure of its manufacturing. The proportion of advanced manufacturing in the manufacturing sector has been on the rise in recent years. The percentage has risen from 38.7 percent to 45 percent.
Several advanced manufacturing sub-industries' development in Jiangsu take the lead nationwide, including the new material industry, the energy conservation and environmental protection industry, the pharmaceutical industry, the new energy industry, and the marine engineering equipment manufacturing industry. The information technology industrial scale takes the second place.
Sub-industries like photovoltaics, smart grids and marine equipment manufacturing account for 50 percent, 40 percent and 30 percent of the national market respectively.
The total amount of the tax revenue created by the manufacturing sector increased from 536.5 million yuan in 2015 to 652.1 million yuan, accounting for 46 percent of Jiangsu's total tax revenue.
Besides, Jiangsu's manufacturing seeks for its transformation and upgrading through innovations. The total investment in R&D last year was 2.7 percent of GDP. The contribution rate of technological progress to the provincial industrial growth was 62 percent. The amount of invention patent authorization totaled 1,330 and the number of PCT patent application was 399.