A rendering of Suning.com's e-commerce industrial park to be built in Taicang [Photo/WeChat account: TCinvest]

Taicang's biggest new project, the Shanghai Ring E-commerce Industrial Park, broke ground in Taicang Port on July 10.

The project is being funded by Suning.com with a total investment of 3.5 billion yuan ($500 million).

This ceremony also witnessed the signing and launching of another 31 projects with a total investment of 36.2 billion yuan and registered capital of 12.86 billion yuan. They are expected to produce an output value of 53.59 billion yuan and tax revenue of 2.88 billion yuan.

The projects include the Reckitt Benckiser (Taicang) PU factory and Crowne Plaza and will boost the high-quality development of Taicang Port.

The PU factory of Reckitt Benckiser (Taicang) covers an area of 12,000 square meters in the Europe-America Hi-Tech Industrial Park and will provide PU materials to Durex. [Photo/WeChat account: TCinvest]

This year, while balancing epidemic prevention and economic development, Taicang Port has brought in 1.511 billion yuan in general public budget revenue, and the total output value of industries above designated size stands at 37.89 billion yuan.

Since Jan 1, the port has attracted 4.18 billion yuan in domestic investment, $237 million in registered foreign capital, $152 million in paid-in foreign capital, and introduced 7.02 billion yuan in fixed assets investment.

Crowne Plaza to be built in Taicang Port [Photo/WeChat account: TCinvest]