The four new understandings of the new kinetic energy mechanism for Jiangsu's economic growth include: the comprehensive integration of the innovation-driven development strategy and the supply-side structural reform requires to be quickly implemented and promoted; Jiangsu still relies on the high-quality investment driven growth mode with high-end industry as the core for a considerable period in the future; Jiangsu should firmly grasp the development opportunity period of the transformation of old and new kinetic energy and the formation of new kinetic energy in China's economy; Jiangsu should seize the opportunity to reshape the export competitive advantage and the development opportunity to optimize and upgrade the export structure. At present, the formation of new kinetic energy for Jiangsu's economic growth has prominent obstacles such as insufficient innovation vitality of private enterprises and small, medium and micro enterprises, the Shanghai siphon effect, and the multiple crowding-out effects that may be caused by the real estate industry bubble. Therefore, it is recommended that Jiangsu to firstly, comprehensively establish the strategic goal of building a high-level scientific and technological innovation base and regional innovation center; secondly, comprehensively strengthen the integrated development model of finance, technological innovation and manufacturing; thirdly, break the old development model of collusion between government and business; fourthly, handle the balance among private enterprises, state-owned enterprises and foreign-invested enterprises in the formation of Jiangsu's new economic kinetic energy.
