Taixing city, administered by Taizhou city in East China's Jiangsu province, has been promoting the construction of major projects in the service industry to empower the high-quality development of the sector.
From January to October, 78 service industry projects worth over 10 million yuan ($1.4 million) each were implemented (and completed) in Taixing, with a total investment of 16.89 billion yuan.
Of those, the total investment in productive service industry projects is 9.27 billion yuan, and the total investment in life service industry projects is 7.63 billion yuan.
SP Chemicals (Taixing) Co Ltd, a resident company in the Taixing Economic Development Zone, invested 114 million yuan in March to build a new material research and development center, which has now started operations.
Moreover, Taixing has been shifting the productive service industry towards specialization and a high-end value chain, while upgrading its life service industry to make it more high-quality and diversified.
Key efforts will be made by Taixing to promote major construction projects with investments exceeding 100 million yuan, such as the Taixing Smart Port project and the Yingxing Plaza project.
A bird's-eye view of Taixing city. [Photo/WeChat account: txfabu]