The State Council officially approved the establishment of the Nanjing Jiangbei New Area (NJNA) on June 27, 2015, which is located at the intersection of the Yangtze River and the eastern economic powerhouses, in Nanjing, East China's Jiangsu province.
With a planned area of 788 square km, the area serves as a major hub and comprehensive opening platform linking the eastern and western parts of Jiangsu province. It also plays a key role in the coordinated development of Nanjing, Zhenjiang and Yangzhou.
As a carrier of the national strategies of the Belt and Road Initiative and the development of the Yangtze River Economic Belt, NJNA aims to become a hub for innovation, a demonstration area for new-type urbanization, a cluster of modern industries in the Yangtze River Delta region and a major platform for opening-up and cooperation in the Yangtze River Economic Belt.
In the first half of 2018, the major economic indicators, including the GDP, general public budget revenue, gross industrial output value above designated size, fixed assets investment and export-oriented economy all exceeded the target set for H1.
The NJNA’s GDP in the period between January and June reached 70 billion yuan ($10.32 billion), seeing comparable prices increased by 13 percent and ranking first in Nanjing; a total of 85 new projects have started construction, accounting for 98.8 percent of the area’s total; the fixed asset investment was 23.89 billion yuan; the growth rate of import-export volume and the actual utilization of foreign capital was expected to increase by 30 percent and 42.5 percent, respectively, both of which surpass the targets set at the beginning of this year by a wide margin.
The NJNA tries to efficiently transform the scientific achievements and promote the coordinated development of universities and local economy through developing new-type research institutes. It has signed 23 projects involving such research institutes and nine of them have passed the registration at the municipal authorities, ranking high in the city.
In addition, it plans to develop itself into a new first-class financial center in China with good capabilities in capital absorption, integration of industries and finance, and the industrialization of innovations. The number of financial enterprises in the zone is expected to reach 1,000 with the financial capital exceeding 1 trillion yuan by the end of the 13th Five-Year Plan (2016-2020).