Jiangyin's Manufacturing Industry Drives Economic Transformation through Enterprise Transformation

Jiangyin City, Jiangsu Province is an important birthplace of rural industries in southern Jiangsu Province. It is mainly manufacturing, and 70% of local enterprises are engaged in traditional industries such as textile, metallurgy, and machinery. In recent years, Jiangyin has continued to transform and upgrade traditional industries, and has vigorously implemented the traditional industrial hi-tech and high-tech industries by formulating and improving the “10 system mechanisms for accelerating the transformation of economic development methods and establishing modern industrial systems”.
In less than three years, Jiangyin has promoted the development of an industry and achieved new energy through “one person driving an industry”, that is, through the introduction of a scientific and technical personnel or an entrepreneurial team in an international frontier field. The industry has grown from scratch. Its current output value exceeds 10 billion yuan, 49 entrepreneurial teams and 115 overseas returnees have been recruited, and more than 1,400 doctoral or master's degrees have been gathered. It is estimated that by 2012, the output value of new energy industry will exceed 100 billion yuan, becoming a new pillar industry in Jiangyin.
By transforming the enterprise to promote economic restructuring, which in turn drives urban transformation and social transformation, Jiangyin took the development of an innovative economy as a breakthrough point, relying on science and technology and relying on talents to achieve a scientific development path that accelerates transformation and upgrading. Now, Jiangyin City ranks first in the ranking of China's basic competitiveness of county economies for seven consecutive years; 10 companies have revenues of over 10 billion yuan, and have become the county-level city with the largest number of enterprises with over one billion yuan in the country; Typical areas of reform and opening up have been hailed as "the forerunners of scientific development."

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