This year, the Taizhou Port Economic Development Zone has been actively fostering economic growth by attracting high-end enterprises, expanding and upgrading existing businesses, and revitalizing underutilized assets.
In the first three quarters, the zone secured contracts for 20 projects valued at over 100 million yuan ($14.03 million) each, including 11 projects exceeding 500 million yuan each.
The zone reported an industrial output value of 26.04 billion yuan from enterprises above designated size, marking a 6.11 percent year-on-year increase. The industrial added value reached an estimated 3.6 billion yuan, a 20.5 percent increase, setting a record high for the same period.
Additionally, 19 new enterprises above designated size were established this year, bringing the total to 96.
Jiangsu Sutai Transportation Equipment's project will produce 200,000 cab door and window assemblies and 300,000 automotive body stamping and welding assemblies annually, with projected sales of around 200 million yuan.
HYCET Engine's Taizhou base, on the other hand, exemplifies successful business upgrading, having renovated a 7,000-square-meter facility and acquired advanced equipment. The project is expected to produce 150,000 automotive turbocharger housings annually, generating sales of 200 million yuan.
Meanwhile, Suzhou Recodeal Interconnect System's Taizhou base has transformed a number of old facilities. Equipped with around 500 sets of advanced production equipment, the base aims for an annual output of 14.4 million battery connection systems, with projected sales reaching 1 billion yuan.