The 2023 Taixing (Shanghai) Investment Promotion Conference took place in East China's Shanghai city on Aug 11, with 28 new projects signed up on site.
Some 22 industrial projects and six talent cooperation projects were signed at the event, costing a combined 22.47 billion yuan ($3.1 billion).
Among the raft of new business, the Taixing Economic Development Zone in Taixing city – administered by Taizhou city in Jiangsu province – signed up four projects worth over 1 billion yuan each.
One is a new energy power battery plant that aims to produce fast charging high-performance batteries. It will cost more than 10 billion yuan and it will be constructed in three phases.
The plant is projected to annually produce 20 gigawatt-hours of new energy batteries and systems, mainly supplying the high-end automotive market in Europe.
Another Taixing EDZ venture is an innovative project for the integrated development of specialized pharma raw materials and formulations, costing 1 billion yuan.
It will focus on producing highly active raw materials, peptides and small nucleic acid drugs, clinical innovative drugs and high value-added featured raw materials.
To serve production, the investors will build a research and development center, an intelligent current good manufacturing practices industry base, as well as an applications and production platform for difficult generic pharmaceutical raw materials and formulations.
To top things off, the unveiling of the Taixing Economic Development Zone (Yangtze River Delta) Offshore Innovation Center at the scene is expected to open up physical space for the growth of sci-tech talent, projects and platforms.