Hailing district in Taizhou has recently made significant strides, securing a spot on the list of provincial characteristic industrial clusters and witnessing a surge in the number of specialized and innovative small and medium-sized enterprises (SMEs).
Hailing district's smart home industry cluster has been officially listed among the provincial SME characteristic industrial clusters. This cluster specializes in smart sofas and intelligent home appliances, comprising 84 SMEs, of which 68 are above designated size — companies with annual revenues of at least 20 million yuan ($2.83 million).
In the smart sofa industry, top companies like Yulong Intelligent Technology and Aorui Smart Home are spearheading innovation by upgrading products from basic mechanical features to include sophisticated sensing and interactive functions.
Meanwhile, in the intelligent home appliances, LG Electronics, a Fortune 500 company, has established its largest overseas refrigerator manufacturing facility in the district, building a robust ecosystem with over 30 supporting enterprises.
Moreover, an impressive 35 enterprises from Hailing district have been awarded provincial recognition as specialized and innovative SMEs in the second batch, with a success rate of over 97 percent. This increases the total of new specialized and innovative SMEs in the district for the year to 38, a record high.
Hailing district continues to focus on expanding its industrial capacity, prioritizing foundational development, transformative upgrades, innovation support, and business development. Moving forward, the district seeks to foster more specialized and innovative small and medium-sized enterprises, while also enlarging and strengthening its industrial clusters to boost competitiveness. These efforts aim to drive Hailing's industrial economy toward high-quality growth.