Substantial Financial Support Drives Corporate Digital Transformation, Activating a Spring of Industrial Economic Growth

Deep News02-01 08:51

Recently, Yangzhou Economic Development Zone introduced the "Several Measures on Accelerating the Intelligent Transformation, Digital Upgrade, and Networked Connectivity of the Manufacturing Sector." The policy outlines ten specific measures across three key areas: comprehensively deepening pilot demonstrations for intelligent transformation, digital upgrade, and networked connectivity; fully implementing digital applications for these initiatives; and comprehensively promoting the development of an ecosystem to support them. A major highlight is the significant increase in investment subsidies for corporate projects related to intelligent transformation, digital upgrade, and networked connectivity.

The measures specify that companies recognized as "Lighthouse Factories" by the World Economic Forum will receive a reward of up to 2 million yuan, providing a clear and strong incentive for businesses to "transform boldly," "transform with confidence," and "accelerate the pace of transformation." Furthermore, the policy proposes rewards of up to 1.5 million yuan for enterprises whose projects are recognized at the national, provincial, or municipal levels for their advancements in these areas.

"This policy provides clear direction and tangible support, filling us with confidence in our industry competition!" said Yu Haiyang, Chairman of Jiangsu Jingsha Lighting Technology Co., Ltd. The dual focus on building an "Industrial Strong Zone" and an "Intelligent Manufacturing Development Zone" serves as the core engine for Yangzhou Economic Development Zone's strategy during the "15th Five-Year Plan" period to establish a modern industrial system anchored by an "two pillars, multiple strengths" advanced manufacturing structure.

"We will allocate more substantial financial resources to back and encourage enterprises, aiming to activate a spring of vitality for industrial economic development," stated Zhang Xiaoming, Director of the Industry and Information Technology Bureau of Yangzhou Economic Development Zone. By 2025, the zone aims to have successfully secured approval for 30 Jiangsu Provincial Advanced-Level Smart Factories. This year, a new round of intelligent transformation, digital upgrade, and networked connectivity initiatives will be implemented, with goals to add 10 new provincial-level "Specialized, Refined, Unique, and Innovative" (专精特新) enterprises, 2 national-level "Little Giant" enterprises, and 1 key "Little Giant" enterprise. The target is for smart factories recognized at or above the provincial level to account for over 20% of all industrial enterprises above a designated size, accelerating the upgrade of traditional advantageous industries towards high-end, intelligent, and green development to achieve capacity expansion and an enhancement in industrial capability.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment