Twelve projects related to automotive electronics and auto spare parts were secured in Taicang, a county-level city in East China's Jiangsu province, on Aug 28.

The projects, with a combined investment of 8.8 billion yuan ($1.21 billion), will play a significant role in bolstering the city's automobile industry, said Wang Xiangyuan, Party secretary of Taicang.

Wang added that authorities will take actions such as rolling out favorable policies, optimizing government services, and cultivating more skilled workers to attract more little giant automobile enterprises.

Taicang is currently home to 207 enterprises engaged in automotive electronics and auto spare parts, which generated an annual output value of 71.23 billion yuan in 2022, representing a year-on-year growth of 13.8 percent.

The output value of these enterprises in the first seven months of this year amounted to 42.51 billion yuan, an uptick of 10.7 percent year-on-year.

Among them, 114 are new energy vehicle enterprises, which generated an annual output value of 36.79 billion yuan in 2022, a year-on-year increase of 20.2 percent and accounting for 51.6 percent of the city's auto spare parts enterprises above designated size.

The output value of these enterprises in the first seven months of this year amounted to 22.31 billion yuan, an uptick of 16.8 percent year-on-year, accounting for 52.5 percent of the city's total.

The city also released an action plan to bolster its automobile industry at the signing ceremony and aims to be home to 250 auto spare parts enterprises above designated size by 2025.