By Abdul Wajid Khan

The China’s journey towards the modernization and innovation is in full swing. After the successfully achieving the first centenary goal of establishing a moderately prosperous society, China is now heading towards the fulfillment of its second centenary goal  of becoming a modern socialist country. Over the past decades, since the launch of the reforms and opening up policy in 1978, China has achieved tremendous achievements in social and economic development. Due to these reforms, China has been successfully transformed into an innovation powerhouse, a manufacturing hub and the second largest economy of the world. It has established strong ecosystem with complete industrial, physical and digital infrastructure systems. Now, China's reform and opening-up has entered into the crucial stage.

China has shifted its focus to high quality and eco-friendly development. Its attention is now on producing more high-tech and intelligent products. Its high-tech industries including new energy vehicles, 5G and photovoltaics are highly competitive and enjoying a strong growth in all over the world. As China’s reform and opening policy has entered into the important phase, the government is now implementing its newly introduced policy related to new quality productive forces to fully achieve the goal of high quality development. This is fully modernizing the industrial and manufacturing system of the China and generating high quality and innovated products and services. This policy will raise the quality of the life of the people, maintain demand and pave way for long-term sustainable economic growth.

It will further strengthen its ecosystem and increase competitiveness of Chinese enterprises as well. In this regard, central and provincial governments currently are taking robust measures to attain these short-term and long-term economic development goals. China Daily recently organized a trip for foreign journalists from different countries including Pakistan to highlight the rapid high-quality economic and social development of the east China’s Jiangsu province and its contribution for global trade and development. Journalists visited most vibrant cities of the province including Nanjing, Yangzhou, Wuxi and Suzhou and obtained a deep insight into Jinagsu's rich history, culture and high quality development and its journey towards modernization and innovation.

During the trip, journalists witnessed that how deep rooted governance guided by the Communist Party of China is bringing prosperity, happiness and welfare to the people. The vital improvement can be observed in the all spheres of life in the province due to the innovation and modernization. Jiangsu is located within the Yangtze River Basin, is the cradle of civilization in ancient China. Historical and ancient cultural heritage is being well protected, promoted and presented with the application of modern technologies. It is covered with a dense network of lakes and rivers, reservoirs. Specialty produce is grown and cultivated throughout the province, including diverse livestock, high-quality rice and seasonal fruit and vegetables. It also massively harvests fish, shrimp, crabs, shellfish, seaweed, and other seafood. Jiangsu has made significant strides in constructing a modernized industrial system, with advancements in both industrial base upgrading and industrial chain modernization.

According to the official data, Jiangsu's high-quality manufacturing development index reached 91.9, ranking first in China. In 2023, Jiangsu achieved a regional GDP of RMB 12.82 trillion. The per capita GDP surpassed RMB 150,000, and the number of its cities with a regional GDP exceeding RMB 1 trillion increased to five. Total imports and exports reached RMB 5.25 trillion. Jiangsu is making heavy investment in research and development which accounted for approximately 3.2% of regional GDP in 2023. Furthermore, the number of invention patents per 10,000 people reached 62.1. These figures indicate Jiangsu's commitment to innovation.

The province boasts over 51,000 high-tech enterprises with technology contract turnover exceeding RMB 460 billion. The Jiangsu has achieved great success in rural and urban revitalization. It has now most modern and strong high-tech industrial base. Induction of 5G, artificial intelligence and other emerging technologies have made the Industrial system most efficient and competitive. These achievements show Jiangsu’s firm resolve in application of new quality productive forces to create most innovated products and services. Jiangsu’s cities are actively promoting ecofriendly development and wellbeing of the people by taking concrete steps. Nanjing, the capital of Jiangsu Province, has become a significant birthplace of modern industry in China.

It’s four pillar industries including steel, petrochemicals, automobiles, and electronics greatly contributing in the local and national economy. Yangzhou which is renowned for its picturesque beauty and livable environment is a glowing illustration of green development. The city boasts a green coverage rate of nearly 45% in its built up areas. Its rice, fruits and tea is famous due to unique and delicious tastes. Since 1990s, Yangzhou's industry flourished with eight major sectors included automobiles, shipbuilding, chemicals, garments, diesel engines, containers, air conditioners, and other specialized industries are driving its economic growth.

Wuxi is also renowned for its economic prowess, recognized as one of the birth places of China's national industry and commerce. Wuxi actively fosters the development of cutting-edge industries such as the Internet of Things (loT) integrated circuits, and biomedicine. While, Suzhou is renowned for the city of gardens embraces openness and international cooperation which is evident from its various platforms for foreign engagement including the China-Singapore Suzhou Industrial Park, the China-Japan Local Development Cooperation Demonstration Zone and others. Jiangsu, being an intersection point of Belt and Road Initiative (BRl), is also promoting cooperation to achieve win-win results. It carried out 262 new investment projects in countries along BRl.

The import and export value solely among countries along BRI reached US$223 billion in 2022. Pakistan's cooperation with China including Jiangsu Province is also increasing under BRI in different sectors. Pakistan will focus on the up gradation and modernization of industrial sector during the second phase of China-Pakistan Economic Corridor which is considered an important pillar of BRI. It is hoped Pakistan's cooperation with Jiangsu in industrial sector will also increase in future. Pakistan can learn from its experience to modernize its industrial sector. Pakistan can further enhance cooperation with Jiangsu in the areas of agriculture, textile, culture and education sectors for win-win results.

Credit: Independent News Pakistan