Jiangsu

Traditionally a major agricultural region of China, Jiangsu province is now one of the leading economic hubs of China. With an area of 102,600 square km, Jiangsu borders East China Sea to the east, Anhui to the west , Shandong province in the north and Zhejiang province and Shanghai in the south. Jiangsu Province lies within the lower reaches of the Yangtze River. The province has a coastline of 954 km. The name ‘Jiangsu’ is derived from ‘jiang’ of Jiangning (now Nanjing), and ‘su’ of Suzhou. The short name for Jiangsu is ‘Su.’

 

Jiangsu Province has a long and rich history. Over 6,000 years ago, primitive villages appeared in Nanjing and the areas near the Taihu Lake. South Jiangsu was the base of the legendary kingdom of Wu during the Three Kingdoms period (222-280 AD). During the Song Dynasty period (960-1279), south Jiangsu emerged as an important trade center. The Ming Dynasty, which was established in 1368, initially established its capital in Nanjing. During the Qing Dynasty, in 1666, the borders of Jiangsu were defined as at present.

 

There are 13 municipalities under the jurisdiction of the provincial government, namely, Nanjing, Wuxi, Xuzhou, Changzhou, Suzhou, Nantong, Lianyungang, Huai'an, Yancheng, Yangzhou, Zhenjiang, Taizhou and Suqian. Under these municipalities, there are 52 counties or county-level cities. The capital of the province is Nanjing.

 

By the end of 2010, the number of province’s permanent residents has grown to 78. 6 million, with the number of migrant population at 14.69 million (2009). It is the province with the highest population density in China, except municipalities of Shanghai, Beijing and Tianjin.

 

Jiangsu led the economic growth in the region with a GDP growth rate of 12.6%. In 2010, the GDP of Jiangsu province stood at US$ 610.49 billion. The total trade volume stood at US$ 465.79 billion, increasing by 37.5% over the previous year. Exports from Jiangsu in 2010 stood at US$ 270.5 billion, increasing by 35.8% over the previous year. Imports into Jiangsu registered a massive growth of 39.9% (compared to massive decline of 40.95 % in 2009) to reach a figure of US$139.59 billion. The amount of contracted FDI in 2010 was US$56.83 billion, while actual FDI in 2010 was US$ 28.5 billion. Jiangsu has ranked first since last eight years in China in terms of actual FDI. The per capita GDP of Jiangsu in 2010 was US$ 7700. Consumer Price Index (CPI) was at 103.8.Disposable income of Jiangsu residents maintained highest growth rates in ECR in 2010 as in 2009. It was up by 11.6% in urban areas to reach US$ 3424 & in rural areas, disposable income was up by 13.9% to reach US$ 1360.

 

In May 2010, the State Council approved the National Development and Reform Commission’s Regional Plan for the Yangtze River Delta. The plan is aimed at developing the region into a key international getaway for the Asia Pacific Region.

 

 

• GDP- US$610.49billion.
• GDP growth rate- 12.6% (one of the highest in China)
• Exports- US$270.50billionand Imports- US$194.24 billion
• FDI – Actual US$28.50billion(Contracted US $ 56.83 billion)
• Per capita GDP: US$7700
• Capital: Nanjing
• Share of Industrial sector in total economy– 53.18 %
  Share of Service sector in total economy– 40.60 %   
• Prominent sectors – traditional products such asrice, wheat, oil seeds,fishery and sericulture. Pillar industries - textiles, machinery,electronics, petrochemicals, foodstuffs, building materials,metallurgy and automobiles. The current emphasis is on biotechnology and IT.
• Population- 78.6 million

 

 

 

 

 

 

By June 2011, India’s total trade with Jiangsu reached at US$ 4.94 billion. Exports from India reached US$ 1.11 billion and Imports by India reached US$ 3.83 billion.

 

 

Many prominent companies from Jiangsu are present in India & doing business with a large cross section of Indian companies in various sectors such as Power generation, mining, chemicals, infrastructure development, auto components etc. This includes Isola Laminate Systems(Suzhou) Limited, JOC International Technical Engineering Co. Ltd. (JOC), Jiangsu Jinpeng Power Station & Transmission Electricity Engineering Co. Ltd., CSR Nanjing Puzhen Rolling Stock Co Ltd., China Coal No. 5 Construction Company, Jiangdu Tianan Machinery Co. Ltd., Jiangsu Hongda Special Steel Machinery Plant Corp. Ltd., Yapp Automotive Parts Ltd. etc.

 

Many Indian companies have set up manufacturing units in Jiangsu. Dr. Reddy’s Laboratories has set up a manufacturing unit in Kunshan. Larsen and Toubro Ltd. have manufacturing units in Wuxi New District and Yancheng. Mahindra Satyam has established its largest software development centre outside India in Nanjing. Mahindra & Mahindra has acquired a tractor manufacturing facility in Yancheng. Laxmi Machine Works (LMW) has established a wholly own subsidiary LMW Textile Machinery (Suzhou) Company Ltd in Suzhou. Wipro has set up Wipro Infrastructure Engineering Machinery (Changzhou) Co. Ltd. in Changzhou to manufacture hydraulic cylinders. Sterlite has set up Jiangsu Sterlite Tongguang Fiber Co. Ltd. in Haimen to manufacture, market and distribute optic fiber used to produce fiber optic cables.

 

There are over 400 Indians in Nanjing including 200 students at Nanjing Medical University & 160 in South East University. There are also 450 students in Suzhou Medical University, 60 in Zhenjiang Medical College, 100 in Zhenjiang Jiangsu University and 130 in Nantong Medical College.

 

 

Jiangsu has 11 national level SEZs and a major international port- Lianyungang. The names of the SEZs are as follows-

Nanjing New High Tech Industrial Development Zone, Nanjing Economic & Technological Development Zone, Wuxi New High Tech Industrial Development Zone, Changzhou New High Tech Industrial Development Zone, Suzhou Industrial Park, Suzhou New High Tech Industrial Development Zone, Kunshan Economic & Technological Development Zone, Zhangjiagang Free Trade Zone, Nantong Economic & Technological Development Zone, Lianyungang Economic & Technological Development Zone and Taizhou China Medical City.

 

Jiangsu is crisscrossed by rivers, canals and lakes, which along with numerous historic sites holds great attraction for tourists from all over the world. Tourism in Jiangsu revolves around three major tourist centers, namely the Yangtze River Area, the Lake Taihu Area and the Xuhuai (Xuzhou and Huaian) Area. Nanjing, the capital of Jiangsu, was also the capital of six Chinese dynasties and contains a variety of historic sites that include ancient ones such as Nanjing Confucius Temple, Ming Dynasty City Wall and the contemporary ones such as Sun Yat Sen Mausoleum etc. Suzhou, which is located in the south east of the Jiangsu province, is known as the “Venice of China”.  The city is renowned for its “Wu” Culture, the traditional “checkerboard- black tile, white wall” architecture and the classic “rock and water” gardens. Nine gardens in Suzhou are listed as World Cultural Heritage Sites. Xuzhou is famous for Han Dynasty(206BC-220AD) Terracotta Warriors’ site and Wuxi has a 80 meter high bronze Buddha statue built in 1996. The water towns such as Luzhi, Mudu, Tongli & Zhouzhuang, and Lakes such as Slender Waist Lake of Yangzhou, Lake Taihu of Wuxi, modern bridges sprawling across the Yangtze River and the older bridges across the ancient canals are also major tourist attractions in Jiangsu.