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Taicang attracts 891 domestically-financed projects in 2013

chinadaily.com.cn | Updated: January 9, 2014

Domestic investments reached a total of 500 million yuan ($82.66 million) in 2013. Registered capital totaled 250 million yuan, and funds to the account of 250 million yuan . Shaxi town introduced domestic registered capital totaling 616 million yuan in 2013, increasing its year-on-year volume by 47.12 percent, the highest among all towns . Last year, all of Taicang’s towns saw steady growth in domestic registered capital attraction, with the port area attracting 3.59 billion yuan, the new zone attracting 1.09 billion yuan, and Chengxiang district 569 million yuan. Taicang had 891 domestically-funded projects with new registered capital reaching 8 billion yuan, successfully finishing the year-round plan with a total investment of 17.95 billion yuan.

The introduction of domestic investment in 2013 revealed three characteristics. First, investment in the service industry took the lead compared with other industries due to requirements in industry transformation and upgrading. Second, the trend to fund big projects was obvious. Third, the areas of introduced projects significantly expanded on the basis of four traditional regions, including Shanghai, Fujian, Guangdong and Zhejiang.

Based on industry classification, Taicang in 2013 introduced seven primary industry projects with registered capital of 15 million yuan, 345 secondary industry projects with registered capital of 3.72 billion yuan, and 539 tertiary industry projects with registered capital of 4.26 billion yuan. The service industry received the largest slice of domestic money in terms of project quantity and aggregate investment. The introduction of big projects last year was relevant to the city’s adjustment of industry structure and development of the modern logistics industry.

The trend to fund big projects was evident. Of the 891 domestically funded items, 141 projects had a registered capital of over 5 million yuan. Total registered capital reached 7.04 billion yuan. The amounts represent increases of 15.82 percent and 88.01 percent of the total, respectively. A total of 17 projects had registered capital of over 50 million yuan, with total registered capital reaching 4.82 billion yuan, 60.27 percent of the total.

Of domestically funded projects introduced last December, seven of the 69 projects were funded by businesspeople from Hunan province. Investment funds for 12 projects came from Anhui. An office worker in the Taicang development and reform commission argued that in the past Taicang introduced domestic investment mainly from Shanghai, Fujian and Guangdong, as well as Zhejiang and Jiangsu. Now, the area from which projects are introduced has significantly expanded due to the city's increasing popularity and influence.

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