Taizhou posts solid economic gains in 2021-25

Taizhou recorded strong economic and social progress during the 14th Five-Year Plan period (2021-25), with major indicators pointing to steady growth, improved living standards and a more balanced development structure.

During the period, the city's gross domestic product is projected to have reached 730 billion yuan ($105.24 billion), while GDP per capita exceeded 160,000 yuan. The income gap between urban and rural residents is forecast to have narrowed to 1.82:1, reflecting more inclusive growth.

Total retail sales of consumer goods increased by more than 200 billion yuan compared with the previous five-year period, and cumulative imports and exports are expected to surpass $100 billion.

Taizhou has become the fifth city in Jiangsu province to have all of its counties surpass a GDP of 100 billion yuan. Taixing Economic Development Zone and Taizhou Port Economic Development Zone have remained among the province's top 10 development zones, while Xinghua, Hailing and Jiangyan high-tech zones have been upgraded to provincial-level status.

For the 15th Five-Year Plan period (2026-30), Taizhou has set clear and forward-looking targets. The city aims to achieve average annual GDP growth of more than 5 percent, with GDP per capita approaching $30,000. R&D expenditure is expected to account for over 3.3 percent of GDP, underscoring a stronger focus on innovation-driven development.

Income growth for residents is set to keep pace with overall economic growth, with further efforts planned to narrow the urban-rural income gap.