Taizhou's Industrial Vision

In 2024, Taizhou's major industries, spanning health, marine equipment, new materials, advanced manufacturing, and emerging future industries, generated an output of 687.37 billion yuan ($95.22 billion), accounting for 83.8 percent of the city's above-designated-size industrial output.

I. Big Health Industry

1. Biopharmaceuticals

Centered around China Medical City, Taizhou's biopharmaceutical industry spans APIs, chemical and traditional Chinese medicines, biologics, diagnostic reagents, and medical devices. In 2024, 163 major enterprises generated 49.31 billion yuan in output. The vaccine sector boasts the highest concentration nationwide and the city hosts China's only national pilot zone for novel vaccines and diagnostic reagents.

By 2030, the industry aims to reach 80 billion yuan, focusing on innovative drugs, multi-valent vaccines, next-gen diagnostics, and high-end medical equipment.

Leading companies include Yangtze River Pharmaceutical, Jumpcan Pharmaceutical, Suzhong Pharma, AstraZeneca, Boehringer Ingelheim, and more.

2. Healthy Foods

This cluster includes foods for special medical purposes (FSMP), food supplements, and deep-processed agricultural products. In 2024, 279 enterprises recorded 88.83 billion yuan in output.

The industry targets 119 billion yuan by 2030 through innovation in functional food and FSMP and advancing prepared food production.

Key players include Yihai Kerry, Nestlé Health Science, and IVC Nutrition.

II. Marine Engineering & High-Tech Shipbuilding

Taizhou is China's largest private shipbuilding base and a national ship export hub. Its major enterprises in the marine equipment and shipbuilding sector produced 77.38 billion yuan in 2024. The city has an advanced capacity of 12 million DWT and excels in supporting industries like mooring and HVAC systems.

By 2030, the cluster is expected to reach 108 billion yuan, with growth in green vessels and large-scale offshore equipment.

Leading enterprises include New Times Shipbuilding and Yangzijiang Shipbuilding.

III. Strategic Emerging Industries

1. Automotive and Components

The city has formed a strong parts supply chain with over 300 products, including wheels, brakes, and gears. In 2024, 319 major enterprises generated 81.96 billion yuan.

Focusing on new energy vehicles and smart auto parts, the industry is targeting 114 billion yuan by 2030.

Top firms include Great Wall Motors, Xincheng Automotive Industrial, and Hengli Brake.

2. New-Gen IT & Intelligent Equipment

IT products include consumer electronics and semiconductors, while smart equipment covers industrial robots and energy-saving tech. In 2024, 142 large-scale IT companies generated 35.66 billion yuan in output, while 590 major enterprises in the intelligent equipment sector generated 85.95 billion yuan.

By 2030, the combined cluster aims for 164 billion yuan.

Major companies include Lens Technology, Stronkin Electronics, LG Electronics, and Sanjiang Electric.

3. Chemicals and New Materials

Taizhou houses one of China's largest lube oil bases and ranks among the top national chemical parks. In 2024, 134 major firms generated 117.35 billion yuan.

The sector aims to reach 200 billion yuan by 2030 through specialty chemicals and medical-grade products.

Key enterprises include CNOOC, SP chemicals, and SNF.

4. Metal Materials & Products

With over 10,000 types of products, Taizhou is a national leader in stainless steel wire and components. In 2024, 651 major firms recorded 95.14 billion yuan in output.

The sector aims to expand to 111 billion yuan by 2030 with advanced steel and high-performance alloys.

Industry leaders include Xingda Steel Tyre Cord and Jingjiang Special Steel.

5. New Energy

Covering solar, wind, and battery materials, this sector saw an output of 47.52 billion yuan in 2024. The photovoltaic industry has achieved over 95-percent chain completeness.

The sector targets 100 billion yuan by 2030 with advancements in PV, lithium batteries, and energy storage.

Core companies include LONGi, Jolywood, and Shuangdeng Group.

IV. Future Industries

Taizhou is nurturing future growth in synthetic biology, gene therapy, and cutting-edge new materials. Though currently modest (8 billion yuan in 2024), the sector aims for 20 billion yuan by 2030.

Pioneers in the sector include Yaohai Bio, Biointron, Cellular Force, and 5elem Hi-Tech.