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Industry and economy
“In 2008, the GDP reached RMB 139.42 billion, the GDP per capita
RMB 30,256, the fiscal revenue RMB 26.2 billion, the total
amount of bank deposits RMB 140.2 billion.”
(Source: www.wikipedia.com, 24/04/2009) |
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Due to Taizhou’s geographic location and aspirations, it was granted the status of open coastal city by the State’s Council, propelling its development. With its rich resources and economic foundation, Taizhou has grown at an average of approximately 10% each year during the past 20 years. Traditionally considered to be an agricultural area due to its favourable weather conditions, industrial economies contribute largely to local financial systems (nearly 60% of GDP). The list of China’s Top 100 Counties names five of Taizhou’s six divisions.
Taizhou’s already favourable geographic location, close to the Yellow Sea and on the banks of the Yangtze River, is a major engine for its progress. The system has been further enhanced to include new bridges and improved ports, adding efficiency to logistic systems.
The inauguration of the Jiangyin Yangtze River Highway Bridge in 1999 brought about many changes for the economic development of Taizhou. This bridge connects Wuxi, at the south of the Yangtze River to Taizhou, and other parts of northern Jiangsu.
Another important facilitator for Taizhou’s economic and industrial development was and is its proximity to major water systems. Infrastructure and capacity of Taizhou Port, connected directly to the Yangtze River, provide easy and hassle-free cargo transportation. Also, the Jingjiang Port and Port of Taixing help to diversify access options and decrease lead-times.
These linkages have improved not only transportation links, but also cooperative partnerships. Countless businesses have moved to Taizhou, and economic co-operations with various countries have been formed. During this century, Taizhou has become increasingly attractive for companies to set up their subsidiaries and facilities. Industrial development in Taizhou is centered on the pharmaceutical, biomedical, biomechanical and biotech sectors, including extremely advanced stem cell research. The pillars of Taizhou’s economic development are:
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Major Agricultural Products
Cotton
Livestock
Vegetables and aquatic plants, especially Ginkgo |
Major Industrial Sectors
Pharmaceutical
Mechanical
Electrical
Food
Textile |
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