The economy of Xinqiao town in the county level city of Jingjiang city – administered by Taizhou city in East China's Jiangsu province – is moving ahead.
The town reported that total fapiao, or industry tax invoices, came in at 5.63 billion yuan ($774.54 million) in the year to the end of May, a 4 percent year-on-year increase.
A concentration on advanced technology is said to have enabled to grab market share.
Last year, total investment by Xinqiao town in research and development rose to over 330 million yuan.
The town also incorporated one national postdoctoral workstation and nine provincial engineering technology research centers.
This year, plans are for Xinqiao to further deepen cooperation between business enterprises and scientific research institutes – as well as move to cultivate 10 more high-tech enterprises and five provincial technology centers.
Work is about to start at a factory in Xinqiao town. [Photo/zhjjwx.jsjjw.cn]
Overall, the development of industrial clusters in Xinqiao has achieved encouraging results.
On the path to forming an integrated system of eco-friendly production, the environmental protection equipment industrial park in Xinqiao has attracted 10 businesses since its establishment last year.
To promote its innovative development, Feihuang (Jingjiang) Intelligent Equipment Industrial Park has incorporated a group of advanced technology industries with growth potential.
The entrance to Feihuang (Jingjiang) Intelligent Equipment Industrial Park. [Photo/zhjjwx.jsjjw.cn]
"This year, the projected invoiced sales of the park is estimated to reach 800 million yuan and the tax revenue may achieve 40 million yuan," said Li Xiang, project leader of the Feihuang industrial park.