East China’s Jiangsu province has continued to expand effective investment since the beginning of this year by increasing investment in high-tech industries and strategic emerging service industries, promoting sustained industrial recovery and growth, making the industrial structure and development quality more optimized, reflecting the continuous improvement of economic transformation and upgrading.

According to statistics from the Provincial Bureau of Statistics, in the first quarter, the province"s strategic emerging industries and high-tech industries accounted for 41.1% and 49.2% of the above designated industries, increasing by 1.8 and 0.8 percentage points from a year ago.

At the end of March, Jiangsu registered 44 thousand high-tech enterprises, a year-on-year increase of 19.5%. in the first quarter, Jiangsu registered 15.4 thousand technology-based small and medium-sized enterprises, ranking first in the country.

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In the first quarter, XCMG sold 664 heavy-duty trucks and 295 new energy concrete mixer trucks, accounting for 28.66% and 47.66% of the national market.

Since the beginning of this year, XCMG Group has maintained sustained and stable development by further upgrading its new energy and intelligent products.

“This year, 94.73% of the sales in the national new energy heavy-duty truck market are pure electric models, and the electric vehicle replacement model is still the main force, accounting for 54.12%. XCMG has carried out comprehensive intelligent upgrades according to the lineup of new energy vehicles so that we are able to seize the first place in the electric vehicle replacement heavy-duty truck market”, Xu Jiajia, Executive Vice General Manager of XCMG New Energy Vehicle Co., Ltd., said.

Jiangsu recorded a year-on-year growth of 31% in revenue from new energy manufacturing industries, including wind power, photovoltaic, and electric vehicles, and a growth of 29.5% in the aerospace manufacturing industry in the first quarter.The rapid development of high-tech industries has benefited from the active expansion of effective industrial investment in various regions of Jiangsu.

“In the first quarter, Jiangsu recorded a 1.6 percentage point increase in investment in high-tech industries, a 63.5% year-on-year increase in investment in new energy manufacturing, and a growth rate of over 10% in investment in intelligent equipment manufacturing and new materials manufacturing. A large number of high-tech industry projects have played an important supporting role in the development of 16 advanced manufacturing clusters and 50 key industrial chains in Jiangsu, promoting high-quality industrial development in Jiangsu”, Shi Jinhua, Deputy Director of Investment and Technological Transformation, Jiangsu Provincial Department of Industry and Information Technology, said.

Investment in high-tech industries has also promoted rapid growth in revenue from strategic emerging service industries. Located in the Nanjing Economic and Technological Development Zone, China"s Nanjing Smart Valley has continued to expand investment in the artificial intelligence industry, and has now formed an artificial intelligence industry ecosystem centered around Microsoft, Lenovo, and Horizon.

The gathering of the upstream and downstream industrial chain of metaverse, a forward-looking technology, in the Smart Valley has opened up new space for digital upgrading in fields such as manufacturing, education, and healthcare.

In the first quarter, Jiangsu recorded a year-on-year increase of over 10% in revenue from strategic service industries, a growth of 13.6% in software and information services, and a growth of over 10% in internet and cloud technology, big statistical digital services, and new technology and innovation and entrepreneurship service industries.

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