City Introduction of Jiangsu, China: Taizhou

Major Economic indicators (2007)

Source: Taizhou Economic and Social Development Report 2007

Introduction

Taizhou, which means "peaceful prefecture" in Chinese, is seated in the central part of Jiangsu Province. It borders the Yangtze River to the south, Yancheng to the north, Nantong to the east and Yangzhou to the west. The city is located right at the confluence of the Yangtze River and the Grand Canal.

The Nanjing-Jinjiang-Yancheng Highway and State Highway 328 link the city with Nanjing and Shanghai, the economic and financial hub of China, while the the Xinyi-Changxing Railway and the Nanjing-Qidong Railway connect the city with Nanjing and Beijing, the capital city of China. Taizhou Airport is scheduled for construction in 2009.

Taizhou has a subtropical monsoon climate with a humid and changeable wind. The rainy season in the city usually takes place in June and July.

Economic Features

In 2007, the GDP of Taizhou soared 15.7% from a year earlier to RMB 120.2 billion, ranking tenth among the cities in Jiangsu Province. The industry sector, the largest contributor of the city's GDP, has generated RMB 70 billion in value-added output, accounting for 58.3% of Taizhou's GDP.

The city’s major industries include petrochemicals and chemical products, pharmaceuticals, shipbuilding and machinery. In 2007, the gross industrial output from these industries totaled RMB 134.9 billion, comprising 59.5% of Taizhou's total.

Yangzijiang Pharmaceuticals Group, set up in 1971, is a leading state-owned pharmaceuticals maker in China. It has total assets over RMB 5 billion and had more than 10 subsidiaries in 2007. Its products range from antibiotics, antineoplastic agents, and endocrine drugs, to drugs for the digestive system and drugs for the cardiocerebral system.

Jiangsu Tailong Machinery Group, covering an area of 800,000 m², had fixed assets of RMB 490 million in 2007. It specializes in making speed reducers, gear reducers, gear-boxes, gears, and air-compressing and air-separation equipment. Annual sales of this company surpass US$100 million.

In 2007, the foreign trade value in Taizhou grew 38.1% to US$ 4 billion. The export value topped US$3.0 billion, representing an increase of 34.2% year-on-year. Mechanical and electronic products are the major export products, with export value hitting US$1.6 billion. The E.U., the U.S., ASEAN and Hong Kong are the largest importers.

Taizhou attracted US$1.7 billion in contractual investments in 2007, with an increase of 42% year-on-year. It utilized FDI of US$875 million, up 14.3% year-on-year.

Cultural Highlights

Taizhou has a long history. In the Spring-and-Autumn Period (770BC-403BC), it was named Haiyang. Then it was called Hailing during the Western Han Dynasty (206BC-24AD). In the Ming Dynasty (AD1368-1644), it was a center of the salt trade. In the Five Dynasties and Ten Kingdoms period (AS907-960), Taizhou got its current name, which it has now kept for about 2,100 years. In 1953, Taizhou was put under the administration of Yangzhou. In 1959, Taizhou and Taixian were combined into Taizhou County. In 1962, Taizhou County was promoted to Taizhou City. In 1996, Taizhou was separated from Yangzhou and became a prefecture-level city.