A bird's-eye view of Taicang, a county-level city in Jiangsu province [Photo/WeChat account: taicangdaily]

Taicang's public budget revenue in 2019 reached 16. 3 billion yuan ($2.36 billion), up 5.1 percent year on year, according to Taicang Daily on Jan 5.

The growth should be attributed to the municipal government's efforts in carrying out preferential policies to stimulate economy and relieving enterprises' pressure with public financing.

The government canceled the charges of five administrative services and saved enterprises over 40 million yuan in tax reduction.

Various supportive policies came into effect to speed up the development of headquarters economy and biological medicine industry.

Subsidiaries valued at 175 million yuan were distributed to support the small- and medium-sized enterprises engaged in the city’s pillar industries. A total of 990 million yuan was granted to support Taicang’s technological innovation.

From January to November, the government issued 69 loans worth 1.76 billion yuan to help enterprises relieve financing pressure.

Notably, over 75 of the public budget was used in environmental protection, rural renovation, and other projects that can improve people's well-being,

From January to November, 13 kinds of subsidies worth 10.46 billion yuan were granted to support education, culture and sports, and healthcare.

The expenditure of government departments were reduced and the saved budget was used to protect the environment and ecology along the Yangtze River.