Taizhou attracts raft of major new projects in Q1

The city of Taizhou in East China's Jiangsu province recently signed off on 79 new projects in the first quarter.

They involved a total investment of more than 500 million yuan ($72.4 million), an 11.3 percent increase on the same period last year according to the local bureau of commerce.

Looking at the attraction of foreign-funded projects, the quality of projects in the first three months of this year is understood to have been significantly better than the same period last year.

There were 11 new foreign-funded projects with a total investment of over $30 million.

In particular, the investment scale of individual foreign-funded projects increased, according to the figures.

Of these, seven were leading industry systems projects, accounting for 64 percent of the total, an increase of 24 percentage points compared with the same period last year.

At the same time, a number of large domestic projects were also attracted.

"From the perspective of investment distribution, Taizhou city's '1+4' leading industry system has seen an increase in new investment," said Huang Hongqi, director of the municipal bureau of commerce.

From January to March, Taizhou city signed 25 new "1+4" leading domestic industry system projects.

The number of projects and the investment amount both achieved year-on-year growth.

Among them were eight projects in the health industry, four in the marine equipment and high-tech shipbuilding industry, three in the automotive parts and precision manufacturing industry, six in the chemicals and new materials industry and four in the photovoltaic and lithium battery industry.