Xinghua city unveils ambitious three-year manufacturing growth plan

Xinghua, a county-level city administered by Taizhou city in Jiangsu province, revealed its Manufacturing Industry High-Quality Development Plan (2024-2026) on Dec 9, aiming to double its industrial sales revenue to over 200 billion yuan ($27.99 billion) by 2026.

Specifically, the metal new materials and high-end stainless steel products industries aim to surpass 100 billion yuan in industrial sales, with special alloy products contributing over 10 billion yuan of that total.

The health food industry plans to exceed 40 billion yuan in sales, including industrial pre-made food sales surpassing 10 billion yuan.

The non-ferrous metal materials industry and the copper products industry are expected to achieve industrial sales surpassing 10 billion yuan. Additionally, the high-end equipment manufacturing sector aims for industrial sales exceeding 30 billion yuan.

Apart from doubling the industrial scale, the plan also encompasses key enterprises, input-output ratios, innovation entities, foreign investment and trade, and regional economy, among other aspects.

To achieve these goals, the city will actively support existing enterprises, adjust lists annually, and promote project attraction.

Emphasis will be put on cultivating industrial clusters, particularly in stainless steel materials, health food, and high-end equipment manufacturing.

Xinghua aims to enhance innovation, facilitate digital transformation, and establish a supportive environment for local enterprises. It also plans to optimize its promotion mechanisms, policy support, and the business environment.