An aerial view of Science and Education New Town in Taicang, a county-level city in Suzhou, Jiangsu province [Photo/VCG]

Taicang, a county-level city in Suzhou, Jiangsu province, witnessed the joint ground-breaking ceremony for 88 key projects worth 66.54 billion yuan ($9.58 billion) on Feb 24. The city has so far launched 123 projects worth 150.15 billion yuan in 2020, despite the epidemic-caused economic downturn.

According to local authorities, 39 of the 88 projects are at the municipal level and nine are at the provincial level. They are expected to bring in an industrial output of 38.32 billion yuan as well as a tax revenue of over 4 billion yuan.

The government will do everything in its power to make up for lost time and try to restore development momentum, said Lan Shaomin, Party secretary of Suzhou, at the ceremony.

Despite Taicang’s relatively small administrative area and population, the city will play an important role in leading Suzhou’s industrial transformation and sustainable development, especially with the 123 new projects, according to the Party secretary.

Lan promised attending foreign enterprises that Suzhou's municipal and county governments will follow international standards to build an appealing business environment for overseas investors, making Suzhou an “international metropolis in our time”.

Taicang will make full use of its geological advantages—neighboring Shanghai and the developing Yangtze port—to introduce more market entities from home and abroad. Streamlined services and online business introduction are expected to bring the city more landmark factories and flagship offices.

The ceremony was attended by Camfil China, Reckitt Benckiser, Yangzi-Mitsui Shipbuilding, and Tuenkers Group, who vouched for Taicang's promising economic potential with much praises, applaud, and most importantly, capital.