Tongzhou bay boosts high-quality development

Tongzhou bay in Nantong, East China's Jiangsu province has made concerted efforts to boost its industrial development over the past few years.

The introduction of new projects is one of the measures taken by the authorities to do so.

Among the key projects introduced is the production base of Flat Glass Group, which is located in the industrial park for carbon neutral companies in Tongzhou bay.

The project is expected to have a taxable turnover of eight billion yuan ($1.18 billion) and pay about 870 million yuan in taxes after it achieves its target output.

At present, 89 key projects with a total investment of 56.3 billion yuan are under construction in the area.

Such projects have advanced the development of industrial clusters for new energy, new materials, digital information, and high-end textiles companies.

To date, the industrial park of high-end textiles in Tongzhou bay has introduced 36 projects worth more than 40 billion yuan. The Lingang industrial park for high-end equipment has also introduced 20 projects with a total investment of 43.13 billion yuan.

Concerted efforts have also been made by authorities to build a business-friendly environment. Last July, Tongzhou bay authorities implemented one-stop services for industrial projects that have improved the approval efficiency by more than 50 percent.

Authorities have also unveiled policies to boost the innovative development of local high-tech enterprises.

In 2022, 19 enterprises in the area were rated as national high-tech enterprises.