Taizhou's economy reaches new milestones in 2021-25

Taizhou's economy has achieved significant breakthroughs during the 14th Five-Year Plan period (2021-25), with its regional GDP surpassing 600 billion yuan ($84.73 billion) in 2021 and 700 billion yuan in 2024. Last year, the city's GDP reached 702.095 billion yuan, meeting the goal of the Five-Year Plan one year ahead of schedule and reflecting the strong resilience and momentum of Taizhou's economic growth.

Behind these impressive results lies balanced development across the primary, secondary and tertiary industries.

Over the past five years, Taizhou's agricultural capacity has steadily improved. The grain cultivation area and total output have both increased for the past five years straight, while the grain yield per unit has remained the highest in Jiangsu province for several years. In 2024, rural residents' per capita disposable income reached 34,000 yuan, narrowing the urban–rural income gap to 1.84:1.

Taizhou's biopharmaceutical, marine engineering and shipbuilding industries were selected as national advanced manufacturing clusters. The city's shipbuilding completions account for about half of Jiangsu's total, one quarter of the national total and one tenth of global output. The chemical and new materials sector is home to 17 globally leading single champion products. Taizhou also has 152 national-level Little Giants (small and medium-sized enterprises recognized for their expertise in niche, high-tech fields), ranking sixth in the province.

The service sector has also seen robust growth. From 2020 to 2024, the added value of Taizhou's service industry rose from 246.4 billion yuan to 334.3 billion yuan, an average annual increase of 6.6 percent. Tourism revenue surged from 15.4 billion yuan to 44 billion yuan over the same period, with annual growth averaging 46.6 percent.

Investment, consumption and exports have continued to grow in tandem, providing sustained momentum for high-quality development. Between 2021 and 2024, Taizhou launched 624 major municipal-level projects, with over 340 billion yuan in completed investment. Fixed-asset investment increased by more than 8 percent annually, while industrial investment maintained double-digit growth for four consecutive years.

Total retail sales of consumer goods are expected to reach 190 billion yuan in 2025, up from 157.69 billion yuan at the start of 2021, representing a growth of 20.49 percent.

The city's cumulative imports and exports during the 14th Five-Year Plan period are projected to reach $97.1 billion, up 44.6 percent from the previous Five-Year Plan period.