Located in Rudong county, Jiangsu Etron New Energy Technology Co Ltd focuses on the research, development and manufacturing of powertrains and related electronic devices for new energy vehicles. [Photo/ntfabu.com]

In the first quarter of 2022, Rudong county – administered by Nantong in East China's Jiangsu province – generated 45.26 billion yuan ($7.06 billion) in industrial taxable sales, up 17.1 percent year-on-year.

That growth is said to be due in no small part to high-tech, innovative companies in the region that are taking full advantage of attractive business conditions – as well as a business-savvy municipal government that is acting in their interests in order to expand the economy.

Jiangsu Jiujiujiu Technology Co Ltd, a provincial high-tech enterprise located in Rudong county, is a leading domestic producer of lithium battery materials and pharmaceutical intermediates. Its ultra-high molecular weight polyethylene fiber and lithium hexafluorophosphate are Jiujiujiu's independently developed products, whose demand exceeds supply.

Innovation is widely said to be an important driver that promotes the sustainable growth of an economy. In order to help its resident companies grasp more development opportunities being brought about by the new-round industrial reform, Rudong county rolled out 30 policies last year to support the innovative development of its manufacturing sector.

"Last year, 250 million yuan was disbursed for sci-tech talent policies, double that of 2020," said the head of the Rudong science and technology bureau. "The growing enthusiasm of enterprises and their vitality in innovation is injecting increasing vigor into the high-quality economic development of Rudong," he added.

Another company is also enjoying the support of the attractive sci-tech innovation incentive policies.

Jiangsu Etron New Energy Technology Co Ltd is expected to continue its vigorous growth and it is said to have become a leading firm in the research, development and manufacturing of new energy vehicle gear reducers.