Ruian city stimulates real economy driven growth

A panoramic view of Ruian city – a county-level city in Wenzhou, Zhejiang province [Photo/WeChat account: Ruianfabu]

Ruian, a county-level city – administered by Wenzhou in East China's Zhejiang province – has consistently concentrated on developing its real economy in recent years, reportedly to lay the foundations for the common prosperity of its residents.

At the start of the current year, Ruian announced eight measures to support the high-quality development of the advanced manufacturing sector and the strategic emerging industry, with a particular emphasis on the digital economy.

So far this year, the city has built the province's first industrial supply chain early warning platform, as well as achieved full coverage of 5G base stations in key towns and in key regions.

In the first half of 2021, the added value of strategic emerging industries grew by 36.8 percent year-on-year, while that of the manufacturing sector for the digital economy increased 17.5 percent.

Plans are for Ruian to build a modern industrial system with a new energy intelligent-connected vehicle industrial cluster valued at over 100 billion yuan, as well as an intelligent manufacturing equipment cluster worth over 50 billion.

There are also plans to build a new materials cluster valued at over 40 billion yuan, a digital economy cluster worth over 30 billion yuan, a health cluster valued at over 10 billion yuan and light industry  cluster valued at over 30 billion yuan.

Projects are said to be the driving force of industry. In the past five years, eight industrial projects valued at more than 2 billion yuan ($309.4 million) and 20 projects valued over 1 billion yuan have been carried out in Ruian – while 26 headquarters projects and top 500 enterprises have been introduced to the city.

Eighteen projects were selected as provincial key technical transformation demonstration projects in June, ranking Ruian number one in the Wenzhou administrative areas.

It has been observed that enterprises are the backbone of the high-quality development of a manufacturing industry – and Ruian has built an incubation supply chain to strengthen the competitive advantage of market players.

The city currently has 38,968 small and micro enterprises, 1,192 enterprises above designated size – those with annual revenue of 20 million yuan or more, four listed champion enterprises and five selected single champion demonstration enterprises (or products).