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Taizhou rolls out 50 measures for its economic development

etaizhou.gov.cn| Updated: February 14, 2023

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On the move: Taizhou city is acting to boost its development. [Photo/WeChat account: tzfabu]

Things are happening on the economic front in Taizhou city in East China's Jiangsu province, with a guideline issued on Feb 6 that details 50 policy measures for promoting the city's development.

Coming in the wake of the Jiangsu provincial paper, the guideline aims to remove bottlenecks and difficult areas preventing the development of the economy.

The guideline features 12 sections, with the first "promoting 1+4 industrial integrated cluster development".

This section includes policy supports for the city's featured industries. The broader aim is to promote the development of the big health industry, set up pharmaceuticals industry guidance funds and direct investment sub-funds, and to encourage and assist qualified big health businesses and projects to settle in Taizhou.

The guideline also reflects concrete policy making. Taizhou Development and Reform Commission director Tao Ling said that in terms of content, Taizhou had quantified the policy measures based on the provincial paper and put together 50 macro measures that contained 160 smaller measures.

For example, it sets out 70 million yuan ($10.25 million) in special funds to encourage enterprises to improve their sci-tech innovation capacity.

Furthermore, the guideline includes 56 new policy measures. Taking "optimizing the business environment" section as example, it supports the participation of small and medium-sized enterprises in government procurements.

The procurement limit for these enterprises has been increased to 4 million yuan, from 2 million yuan previously.

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