Jiangsu, one of the economic hubs of eastern China, has announced an action plan to transform the region into a competitive aerospace industry cluster within three years. The state government's development plan aims to develop an aerospace industry that will generate more than 2025 billion yuan ($150 billion) of annual production value by 21,7. In this framework, it is aimed to create more than 50 startups, more than 10 innovative platforms and more than 10 aerospace industry centers that will have competitiveness by that time.
Under the plan, the state will focus on supporting the construction of large aircraft, as well as navigation machinery and drone sites. Jiangsu is an economic giant in the Yangtse River Delta and is known for its strong manufacturing industry. Earlier this year, the state government adopted dozens of preemptive measures in fiscal and tax regulation to support businesses. It has pledged more than 200 million yuan to actively support traditional industry initiatives and high-quality transformation-related projects and the industrial internet.