Companies in Taizhou's Jiangyan district expand global reach

A view of Jiangyan district. [Photo/IC]

Business enterprises in Jiangyan district of Taizhou city – located in East China's Jiangsu province – have accelerated their integration into the global industrial supply chain in the current year.

They've led the city in both the number of overseas investment projects and the amount of agreed Chinese investment going abroad.

Since this year, Taizhou has recorded eight approved outbound investment projects with total Chinese investment of $151 million, four of which are being led by Jiangyan-based companies.

"Promoting enterprises to go global enhances supply chain resilience and drives high-quality economic development," said Ji Xiaobin, director of the Jiangyan district bureau of commerce.

To support these efforts, Jiangyan has hosted training sessions on risk prevention for overseas investments and provided face-to-face services in collaboration with local government and financial institutions. Additionally, the district has  organized jobs fairs to secure a steady stream of international talent for these enterprises.

Focusing on the Belt and Road Initiative, Jiangyan has especially tailored services to help companies navigate the international markets. These include market insight briefings, risk advisories and opportunities for participation in major trade expos like the China Import and Export Fair and the high-profile China International Import Expo.

Moreover, Jiangyan companies are investing in diverse fields, from manufacturing and sales networks to R&D. For instance, Huali New Material's additional $60 million investment in Thailand has brought the project's total capital to $128 million. Set to begin operations in the third quarter the year, this project is expected to boost the company's exports by $40 million annually.

"We emphasize precise and heartfelt service to support our enterprises," said Geng Xiaoli, director of the Taizhou bureau of commerce. Geng added that monthly evaluations and service plans ensure continuous support for outbound investment initiatives.

Looking ahead, the city will hold a conference to encourage investment in the European and American markets while deeply cultivating the main sphere of  Southeast Asia. Key projects include expanding into high-value sectors like infrastructure and healthcare, showcasing Taizhou's construction expertise internationally.

"We aim to amplify the 'Jiangyan experience' and foster more global enterprises," Geng added, highlighting plans to encourage Taizhou firms to undertake significant international projects and to enhance cross-border industry collaborations for sustained high-quality growth.