Jiangyan district in Taizhou city in East China's Jiangsu province has been actively guiding and encouraging its enterprises to expand their presence in countries involved in the Belt and Road initiative.
This includes establishing overseas companies and factories, and actively participating in international division of labor.
Notably, companies like Jiangsu Pacific Precision Forging Co Ltd, ZOYO tech, and Taizhou Xinyu Precision Manufacture Co Ltd in Jiangyan Economic Development Zone have established overseas production bases and globalized production systems in countries involved in the Belt and Road initiative.
A view of Jiangyan district, Taizhou. [Photo provided to etaizhou.gov.cn]
Li Yuming, deputy director of the Jiangyan bureau of commerce, highlighted the district's commitment to providing effective tracking services and expediting the start and production of projects. One of the measures taken is the establishment of an integrated service network platform that will help enterprises go global.
Over the past decade, Taizhou city has established 98 new overseas investment enterprises in countries involved in the Belt and Road initiative. The agreed Chinese investment in these enterprises totals $1.005 billion, accounting for 46.8 percent of Taizhou's total offshore investment agreement.