A panoramic view of Taixing city. [Photo provided to etaizhou.gov.cn]
Taixing's economy went from strength to strength last year, with its GDP and growth both ranking first in Taizhou city in East China's Jiangsu province.
The local GDP of this county-level city hit 136.67 billion yuan ($19.87 billion), up 5.3 percent year-on-year.
The added value of its primary industry reached 7.52 billion yuan, up 1.8 percent, while that of its secondary industry hit 69.89 billion yuan, up 7.1 percent year-on-year. The comparative figure for its tertiary industry was 59.26 billion yuan, marking a rise of 3.7 percent.
To help enterprises facing difficulties, Taixing implemented 14 measures for industrial businesses and 23 for the service sector. The city reduced taxes and fees to the tune of 12.72 billion yuan and offered 20.4 billion yuan in business loans last year.
In 2022, some 206 projects costing more than 100 million yuan ($14.54 million) each were signed, with 34 of them costing over 1 billion yuan apiece.
In addition to this, over 100 newly added industrial enterprises above a designated size – those with annual revenue of 20 million yuan ($2.91 million) or more – were based in Taixing last year, with the output value of industrial enterprises above a designated size up 13.5 percent year-on-year.