Jiangsu Fiscal System Allocates RMB 200 Million to Support Marine Industry Development

Recently, Jiangsu Provincial Department of Finance and Jiangsu Provincial Development and Reform Commission jointly allocated RMB 200 million from special funds for development and reform, supporting the marine industry development in five prefecture-level cities, namely Lianyungang, Yancheng, Nantong, Yangzhou, and Taizhou, and six key coastal counties and county-level cities, namely Qidong, Rugao, Rudong, Dongtai, Sheyang, and Funing.

Located along the coast, Jiangsu Province is endowed with unique marine resources, making the marine industry an important pillar of Jiangsu’s economy. The allocation of these special funds is aimed at promoting high-quality development of the marine industry in Jiangsu and building a marine industry cluster with international competitiveness. The special funds will focus on fostering the 10 major marine industries identified by the province, especially the emerging marine industries such as marine technical services, marine information services, and high-end shipping services. Additionally, they will also reinforce the development of relatively weaker industries, including marine fisheries, marine pharmaceuticals and bio-products, seawater desalination and comprehensive utilization, and marine tourism. Furthermore, the funds will be used to enhance capacities of R&D and design, key components, and overall assembly and integration in shipbuilding and offshore engineering industries, which will facilitate the upstream-and-downstream extension of the marine industrial chain, and propel it towards the mid-to-high end of the value chain.

(From: Jiangsu Provincial People's Government. 2025-02-16)