New investment to upgrade Jiangsu's industrial development

Southeast China's Jiangsu province has earmarked 220 major projects for development in 2016. And 200 of them are expected to be put into construction during the year, according to the Jiangsu Development and Reform Commission.

The provincial government body plans to spend 2.4 trillion yuan ($364 million) on the projects and 500 billion yuan of the budget will be spent this year.

Focusing on key sectors, the province has designated industrial projects to support future investment growth and is determined to complete its target from three aspects.

Policymakers in the province have been mulling over a series of policies related to the national Made in China 2025 blueprint and Internet Plus strategy to encourage more enterprises to join the two programs. Through policy guidance and financial support, authorities in Jiangsu hope to develop more strengths and functions of industrial development.

Authorities have prioritized the improvement of the housing market investment situation. To do this, they will take advantage of new-typed urbanization pilot policies to guide developers to accelerate project progress and expand their investment scale.

Developing the province's infrastructure remains an important task for the government in 2016. They will seek to advance transportation projects in the north of Jiangsu and accelerate the construction of smart cities, "sponge cities" and ecological cities. The government will also seek to improve infrastructure for new energy vehicles to promote a comprehensive infrastructure system in the province.

Under the principles of maintaining growth, structure adjustment and risk control, Jiangsu government will take multiple measures to boost the overall economy in the province, according to Chen Zhenning, director of the Jiangsu Development and Reform Commission.

The Jiangsu Development and Reform Commission holds a meeting regarding provincial plans and targets in 2016, on Dec 27. [Photo/jsdpc.gov.cn]