Taizhou sees surge in foreign investment

The China Medical City in Taizhou, Jiangsu province. [Photo/WeChat account: weigg6666]

In the first half of this year, foreign investment in Taizhou, Jiangsu, has seen a significant increase.

According to data from the Taizhou commerce bureau, the city's manufacturing sector attracted $230 million in foreign investment, surpassing the provincial average FDI proportion by 17.3 percentage points. Additionally, high-tech industries in the city drew $343 million in foreign investment, marking a 7.8 percent increase year-on-year and exceeding the provincial growth rate by 12.2 percentage points. High-tech industries accounted for 83 percent of the city's total FDI.

"This trend indicates that foreign investors are increasingly focusing on Taizhou's real economy, with a marked shift towards high-tech and green sectors," said Geng Xiaoli, director of the Taizhou commerce bureau.

Despite the complex and changing global economic environment, Taizhou remains an attractive destination for foreign investors. Geng attributed this confidence to the city's comprehensive services for foreign businesses. "We have been actively seeking solutions to problems encountered by foreign-invested projects," Geng said.

For instance, the city has facilitated the National Intellectual Property Administration in expediting the resolution of patent infringement cases involving AstraZeneca's Forxiga, a medicine used to treat diabetes. This was crucial in stabilizing companies' market expectations and helping them develop new products, said Wang Suodong, director of commerce at Taizhou Medical High-Tech Zone.

In the future, Taizhou is focused on advancing the development of public service platforms within its industrial parks to heighten its appeal to major projects and potential investors.