Jiangsu Development: Further opening-up and high quality development

World
Europe

Eastern China's Jiangsu province has announced it will open itself even wider to the world. The province has revealed a blueprint for further transforming its industry to an innovation-driven economy. CGTN's Sun Tianyuan reports.

As one of the earliest beneficiaries of China's reform and opening-up policy, Jiangsu province is also leading the progress over the past several years.

While the world faces growing protectionism, this region of eastern China keeps its doors open.

WU ZHENGLONG GOVERNOR, JIANGSU PROVINCE "Despite the impact of the China-US trade friction, Jiangsu's foreign trade volume has maintained stable growth. Exports to the US dropped 1-point-8 percent from January to July. But exports to the European Union and countries along the Belt and Road increased."

A 47 percent surge in overseas investment has come in along the Belt and Road.

In 2018, Jiangsu witnessed the launch of over 230 foreign investment projects under the Belt and Road Initiative.

LOU QINJIAN, SECRETARY CPC JIANGSU PROVINCIAL COMMITTEE "Jiangsu is a focal point of the Belt and Road. We are pulling all our strength together to accelerate its development. This is not only about human resources or logistics, but also information exchange."

Meanwhile, Jiangsu has made progress in science and innovation.

According to recent data, technological progress has contributed at least 63 percent to the province's economic growth. More than one-fifth of China's high tech products are made in Jiangsu.

Exports of high-tech products alone have exceeded 1 trillion yuan, or 140 billion US dollars.

SUN TIANYUAN BEIJING "In 2018, Jiangsu's GDP reached over 9 trillion yuan, accounting for 10 percent of China's total economy. Officials say the province will continue focusing on innovation and transformation, while promoting green development as a top priority. STY, CGTN, Beijing."