Engineers test the automatic machines at an equipment manufacturing factory in Jiashan county, Zhejiang province on Feb 12, 2019. [Photo/IC]

Starting time: 2017

Introduction:

"Eagle" plan - East China's Zhejiang province initiated a plan of action code-named "Eagle" in a bid to cultivate a group of companies with global competitiveness for the region's high-quality modernization in January 2019. The plan states that by 2022, there will be 20 companies from the manufacturing and related service sectors with annual revenue of more than 100 billion yuan ($14.78 billion). Meanwhile, the province plans to elevate six companies to the Fortune Global 500 list within three years.

"Eyas" plan – The Zhejiang Commission of Economy and Information Technology initiated a plan of action code-named "Eyas" in May 2018 to incubate a batch of "invisible champion" companies and "single champion" companies, promoting high-quality development of medium, small and micro companies in Zhejiang. It was planned that by 2022, the province will have added more than 10,000 new companies above the designated size which used to be small companies, over 1,000 incubating "invisible champion" companies and nearly 200 recognized "invisible champion" companies.

"Phoenix" plan -- Zhejiang governor Yuan Jiajun issued the "phoenix" plan in October 2017 to promote companies' listing, merging and reorganization. It is planned that the number of listed companies and key enterprises to be listed will reach 1,000 by 2020, and the province will build several modern industrial clusters that have listed companies as leaders and exceed 100 billion yuan in output value.

Achievements:

East China's Zhejiang province's economy has two features – fast and new. Zhejiang recorded a GDP growth of 7.7 percent in the first quarter of 2019, 1.3 percent higher than that of the country. Digital economy has been regarded as a new driving force behind Zhejiang's economy. Official statistics show that core digital economy industries grew by 13.6 percent in added value in the first quarter of 2019.

A number of scientific centers with new research modes, such as Zhejiang Lab, Xihu University, the Yangtze Delta Region Institute of Tsinghua University and the Alibaba DAMO Academy were established in Zhejiang in 2018. There were 3,187 newly-added high-tech companies and 10,539 new scientific technological micro companies in Zhejiang last year, with the proportion of investment in R&D reaching 2.52 percent.

Quite a few companies in Zhejiang are equipped with intellectual manufacturing, robots and cloud services. Official statistics show that, by February 2019, Hangzhou had conducted 3,300 "machines replacing humans" projects, and more than 80,000 companies in Hangzhou had been equipped with cloud services.