In the first three quarters of this year, the added value of the service industry in Taicang reached 34.2 billion yuan ($5.61 billion) with a year-on-year growth of 13 percent. Service outsourcing, commerce and circulation services, and the real estate industry surged.

The added value created by the service industry makes up 43 percent of Taicang's GDP, increasing 1.2 percentage points on a year-on-year basis. Investment in the first three quarters rose by 10.9 percent to 18.14 billion yuan, accounting for 34.9 percent of fixed-asset investment in Taicang.

The Taicang government introduced 348 domestically-funded projects for the service industry. The industry now has registered capital of up to 3.76 billion yuan, accounting for 59.29 percent and 64.26 percent of Taicang's newly-introduced domestically-funded projects and their total capital, respectively. The service industry yielded about $200 million with an increase of 155 percent year-on-year, ranking first in Suzhou.

The service outsourcing industry led in all key service sectors. In the first three quarters, it doubled in size, with total contract capital reaching $51.3 million and actual offshore paid capital reaching $24.5 million. The bio-pharmaceutical outsourcing industry continued to stay ahead, with Jion Laboratories achieving a quadruple turnover of 70 million yuan more than last year.

From January to August, retail sales in Taicang reached 14.47 billion yuan, an increase of 12.7 percent year-on-year. Taicang's modern logistics industry has also developed rapidly. The newly approved Taicang Port Comprehensive Bonded Zone can harbor 200,000-ton vessels. Meijin Port also executed a successful trial operation and is an ideal transshipment platform for heavy and large equipment. Taicang Port raised its cargo throughput by 9.12 percent to 98.11 million tons

Edited by Chen Zhilin and Michael Thai