The Hai'an Federation of Industrial Economics was established in the county-level city of Hai'an in Nantong, East China's Jiangsu province, on Oct 23. It is the first county-level federation of industrial economics in Nantong and the second of its kind in the province.

Industry is a significant indicator for measuring the comprehensive strength of a region. During the 13th Five-Year Plan period (2016-20), Hai'an took the initiative to revitalize its traditional industries and boost the development of emerging industries.

Ten major industrial clusters featuring sectors such as nylon, new materials, electronic information, robotics and intelligent manufacturing have since taken shape in the city. And Hai'an is also actively exploring the potential of emerging industries such as aerospace, nuclear power and biomedicine.

It is home to over 1,000 industrial enterprises above designated size (annual revenues of at least 20 million yuan or $3.13 million), and five "little giant" enterprises which were recognized by the Ministry of Industry and Information Technology for their high growth potential, advanced technology and strong competitive edge.

Hai'an is the first county-level city in Jiangsu located north of the Yangtze River with annual industrial taxable sales exceeding 200 billion yuan.

The federation will help build service platforms on industrial management and innovation, coordinate industrial development, promote economic development, contribute to the city's cultivation of large industrial enterprises and talent, and accelerate the listing of companies.