By Greg Gao

Eastern China’s Jiangsu Province has become a leading lithium battery production base and the new energy industry is its most popular industrial investment, according to the provincial government source. 

From January to April this year, Jiangsu’s industrial investment increased by 14.8% year on year, and 450 major industrial projects attracted an investment of RMB94.3 billion($14 billion), accounting for 35.8% of the planned annual investment. Driven by strong investment, Jiangsu’s energy industry grew by more than 40% this year, becoming a source of steady growth.

The new projects include the Vital Micro-Electronics Technology(先导微电子)’s high-end semiconductor equipment making; Jiangsu Sunport Power Corp(日托光伏)’s production of 5GW ultra-high-efficiency MWT(Metalization Wrap Through) solar cells, and Luxshare Precision(立讯精密)’s production of connecting wires, connectors, and electronic modules.

According to the “List of Major Industrial Projects in Jiangsu Province in 2022” compiled and issued by the Jiangsu Provincial Department of Industry and Information Technology, Jiangsu planned to initiate 450 major projects with a total investment of over RMB1 trillion($149 billion) and an annual planned investment of over RMB260 billion($38 billion).

Of the 169 major industrial projects that will be started this year in Jiangsu, 122 have been kicked off by the end of April.