Taxable sales of Rugao's new power equipment industry totaled 6.44 billion yuan ($891 million) from January to September, a year-on-year increase of 28.37 percent, according to the Rugao development and reform commission.

The new power equipment industry is one of the city's top six industries. The city is currently home to four "little giant" enterprises above provincial level and six provincial-level technology research and development centers.

In addition, the city has 45 above-designated-size enterprises involving power transmission and transformation equipment, wire and cable and new energy equipment.

The intelligent GIS composite apparatus industrialization project of Jiangsu Siyuan High-Voltage Switch Co Ltd, with a total investment of 1 billion yuan in the Rugao Economic and Technological Development Zone, was officially put into operation in the second half of last year. Its output value is expected to exceed 2 billion yuan this year.

During the China (Jiangsu) New Power Development Conference, which was held in the city on Sept 19, agreements for six projects involving new power equipment and costing a total of 2.2 billion yuan were signed, invigorating the city's industrial chain.

In the future, to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060, the city will promote the integrated development of photovoltaic, wind power, hydrogen and other new energy industries with the traditional power industry, building a strong new power equipment industry cluster.