On the move: A panoramic view of Hailing district. [Photo/WeChat account: weihailing0523]
The Hailing district of Taizhou city, in East China's Jiangsu province will closely follow the overall direction of the development path it has set, as well as stage investment promotions and provide efficient services for resident businesses in 2024, officials said.
In the wake of the 13th Five-Year Plan period (2016-20), Hailing has readjusted its industrial focus, leading to the closure of 41 chemicals companies and 42 shipyards.
"The withdrawal of these enterprises has caused a serious impact on major economic indicators, such as Hailing's industrial output value and tax revenue," said Sun Qun, Party secretary of the district.
In the move to optimize its industrial layout, Hailing will now focus on eight major sectors – new energy, smart home appliances, automotive components, new materials, smart homes, new generation information technology, the modern service industry and modern agriculture.
In terms of project goals, Hailing will aim to break ground on one project worth $10 billion in the current year and two projects costing over 5 billion yuan each, complete the construction of 20 new projects and add three Jiangsu major projects.
"Hailing will further optimize its industrial layout to unleash its development potential," Sun added.
Overall, Hailing will accelerate the construction of a so-called "1+5+3" system. This will involve leveraging the coordination role of the Taizhou Hailing Investment Promotion Center, building five strong professional investment promotion branches and utilizing the strong input of Hailing's three offshore innovation centers in Beijing, Shanghai and Nanjing cities.
What's more, Hailing will employ 10 investment attraction methods – including events and media investment promotions – striving to attract investment from the top 10 leading enterprises in various industries.
Statistics showed that Hailing achieved eye-catching results in 2023, with regional GDP hitting 77.45 billion ($10.77 billion) and the general public budget revenue topping 4 billion yuan.