Taicang port area fosters four major industrial clusters with annual output value of more than 10 billion yuan ($1.57 billion). [Photo/WeChat account: TPETDZ]

Up to now Taicang port area has fostered four major industrial clusters with annual output value of more than 10 billion yuan ($1.57 billion), Taicang Daily reported recently.

The four industial clusters, namely high-end equipment manufacturing, function materials, premium grade oil, and papermaking industries, generated 11.5 billion yuan, 13.1 billion yuan, 13.3 billion yuan, and 11 billion yuan in 2017 respectively, all of which has seen double-digit growth.

The output value of the port area's green energy industry reached 7.6 billion yuan last year, and another 10-billion industrial cluster is expected to be included in the area this year.

Over the past few years, Taicang port area has introduced all kinds of research institutions and issued preferential policies to help local enterprises develop advanced technologies and attract talents.

Head of the port area said that the area plans to seek scale development of four major emerging industries (high-end equipment manufacturing, function materials, green energy and health industries) and continue supporting the development of its three key industries, including energy, papermaking and chemical engineering industries in the new year.