Jiangsu Zhongtian Technology Co Ltd, a manufacturing company based in Rudong county, Nantong, East China's Jiangsu province, recently secured the 102nd position on the 2023 list of China's top 500 private enterprises.

ZTT's achievement can be attributed in part to the concerted efforts of Rudong in fostering the continual growth of the manufacturing sector and nurturing leading industrial enterprises.

As of the latest statistics, Rudong is currently home to three nationally-recognized champion product companies, 10 national-level "little giant" enterprises, 45 provincially-specialized small and medium-sized enterprises, and 205 innovative small and medium-sized enterprises at the municipal level.

To help businesses to thrive, Rudong has introduced policies that reward enterprises which have annual taxable sales and tax payment beyond a certain threshold. For example, enterprises with an annual tax payment exceeding 100 million yuan ($15.6 million) are eligible for a 1-million-yuan tax deduction.

By the end of 2022, the county had 267 enterprises with taxable sales exceeding 100 million yuan. Among these, one enterprise earned over 10 billion yuan in sales, while four others surpassed the 5-billion-yuan mark, and 25 enterprises exceeded the 1-billion-yuan threshold.

This year, the county has seen an encouraging surge in the chemical fiber manufacturing sector, with the taxable sales witnessing a remarkable year-on-year growth rate of over 100 percent in the first half of this year.

A factory in a local manufacturing enterprise in Rudong. [Photo/WeChat account: rudongfb]