The Jiangyan Economic Development Zone in Taizhou city – located in East China's Jiangsu province – recently reported strong, innovative growth in the first half of the current year.
Its GDP hit 10.76 billion yuan ($1.5 billion) during the period, a year-on-year increase of 8.64 percent. The zone's industrial added value came in at 5.6 billion yuan, up 12.9 percent, while the general public budget revenue was 541 million yuan, up 50.1 percent year-on-year.
The Jiangyan Economic Development Zone holds a news conference about its industrial development. [Photo provided to etaizhou.gov.cn]
The zone's economic indicators were comfortably higher than the city's average. During the first half of the year, five projects with a total investment of 3.52 billion yuan started construction, while three projects worth 2 billion yuan were completed.
The zone also received over 30 million yuan in grants and subsidies during the period to support industry and company growth.
Jiangyan Economic Development Zone company ZYfire Hose Corporation holds a public offering of its stock. It listed its shares on the Beijing Stock Exchange on April 24. [Photo provided to etaizhou.gov.cn]
Moreover, seven enterprises in the zone were selected as national-level "little giant" businesses – elite small and dynamic companies that formally meet an exacting set of criteria.
Going forwards, the zone will focus on innovation – prioritizing the new energy, new equipment and new infrastructure sectors.
It will also seek partnerships with universities, research institutions and companies, in order to drive technological innovation forwards.
What's more, plans are for the zone to offer more policy and financial support to businesses and to recruit more top professionals.
Additionally, it will focus on the development of modern services, modern manufacturing and emerging industries to achieve higher-quality growth in the second half of the year.