Introduction to the Economic Environment of Changzhou City

Economic Overview of Changzhou City in 2024

In 2024, Changzhou's economic development has performed outstandingly, with multiple economic indicators ranking among the top in the province and even the country. It is expected that the regional gross domestic product will grow by about 6% for the whole year, the general public budget revenue will increase by 2.6%, and the tax revenue will account for 84.1%, ranking first in the province. The contribution rate of industry to economic development is leading in the province, with the added value of industrial enterprises above designated size increasing by about 6.8%. Changzhou's economic recovery is accelerating, stabilizing and improving, demonstrating sufficient resilience.

Industrial Structure and Major Industries

Changzhou's economic structure continues to optimize, with a leading tax revenue share in the province and a unique industrial contribution. The new energy industry is an important pillar industry in Changzhou. By 2024, the scale of the new energy industry will exceed 850 billion yuan, with a total vehicle output of nearly 800000 vehicles. The investment enthusiasm has been ranked first in the country for three consecutive years, and it has been awarded the "China's New Energy Capital" urban industry card. Changzhou has a complete new energy industry chain, ranking third in the country in terms of industrial agglomeration, and a complete energy storage battery industry chain of 97%.

Major projects and investment situation

In 2024, a total of 42 projects in Changzhou were selected as major provincial projects, with an annual planned investment of 31.5 billion yuan, including 20 strategic emerging industry projects, focusing on emerging fields such as new energy, synthetic biology, semiconductors, and new materials. Fixed assets investment increased by 1.0% year on year, of which industrial investment increased by 8.6% and high-tech industry investment increased by 9.4%. These major projects and investments have strongly supported the economic development of Changzhou.

The business environment in Changzhou City has shown outstanding performance, mainly reflected in various aspects such as policy environment, market environment, and government environment. ‌

Policy environment

Changzhou has introduced a series of supportive policies, such as "20 Innovations", "30 Industries", "10 New Energy", and "10 Synthetic Biology", aimed at accelerating the innovation and upgrading of the industrial chain and creating a "New Energy Capital" city card. These policies promote technological innovation and industrial development through methods such as "unveiling and leading". In addition, the Changzhou Municipal Government has established a "Government Enterprise Communication" service platform, which enables one-stop policy aggregation, proactive push of issues, automatic matching of rewards and subsidies, and other functions, enhancing the service experience of enterprises.

market environment

Changzhou has built a five in one innovation ecosystem of "basic research+technological breakthroughs+achievement transformation+science and technology innovation fund+talent aggregation", and created the "most desirable city for youth innovation and entrepreneurship in China". The market environment has been significantly optimized, with a strong atmosphere of innovation and entrepreneurship. A 40 billion yuan science and technology innovation fund has been established, leveraging social capital to form 200 billion yuan in innovation investment. The number of listed companies has increased, and the credit support is strong. The loan growth rate has ranked first in southern Jiangsu for 21 consecutive months.

Government environment

Changzhou's political and legal system is committed to creating a first-class legal business environment, implementing the "Ten Actions", cracking down on corporate crimes, and protecting the legitimate rights and interests of enterprises. By using platforms such as the "Longcheng E-lawsuit Center", we aim to improve the efficiency of handling enterprise related cases and resolve conflicts and disputes. The government service implements the "one thing, one time" approach, providing integrated services throughout the entire life cycle, reducing operational costs for enterprises, and enhancing their satisfaction.