Rugao, Nantong, celebrated remarkable economic achievements in 2024, driven by its proactive investment attraction strategy and a concerted effort to optimize the business environment. 

An aerial view of Rugao. [Photo/WeChat account: rugaofabu]

Throughout the year, Rugao orchestrated 318 investment promotion events and conducted 188 targeted project visits, focusing on initiatives with strong synergy with local advantageous industries and the marine economy, particularly those possessing core technologies and significant growth potential. This strategic approach successfully nurtured new economic drivers.

These efforts translated into impressive results. In 2024, Rugao secured 51 domestic investment projects valued at over 500 million yuan each ($68.5 million) and 11 foreign-funded projects with investments exceeding $30 million. Nearly three-quarters of these projects were in high-tech manufacturing and strategic emerging industries. Actual utilization of foreign investment surpassed $100 million, underscoring the city's growing attractiveness to international investors. 

Furthermore, Rugao witnessed the groundbreaking of 31 industrial projects valued at over 500 million yuan each, securing the second-highest ranking in Nantong. Additionally, 25 projects were completed, placing the city third in Nantong. The city's commitment to innovation is evident in its success in attracting 229 new science and technology projects, earning it the top spot in Nantong.

Adding to these accomplishments, Rugao's ultra-high voltage equipment and new chemical materials sectors received national and provincial recognition as characteristic industrial clusters, respectively. The city also claimed the top spot in Nantong with 18 municipally recognized high-quality manufacturing projects valued at under 500 million yuan each. It also secured the second position by gaining recognition for 58 new service industry projects.

In the new year, Rugao continues prioritizing investment in its six key industries, relentlessly optimizing its business environment and expediting project development. Simultaneously, the city is set to strengthen existing platforms related to industrial cultivation, technological services, financial information, testing and inspection, and concept validation. These efforts aim to bolster the attraction and development of leading enterprises and innovative, high-quality projects, propelling Rugao towards high-quality development.