Taizhou signs deals worth US$247 million

The Taizhou government and companies from the city in neighboring Zhejiang Province have signed 14 cooperation and procurement projects covering a fields such as banking, PE materials and precision casting totaling about US$247 million.

The Taizhou (Shanghai) Trade Promotion Meeting at the China International Import Expo gathered more than 60 senior executives from manufacturing and hi-tech industries in nearly 10 countries and regions and over 60 enterprise representatives from Zhejiang as Taizhou gears up its economic globalization and accelerates industrial and consumption upgrading.

The Taizhou government signed a cooperation agreement with the Zhejiang outlet of the Export-Import Bank of China, and companies from the city and and overseas agreed projects in fields such as crystal optoelectronic optical glass, PET lightweight technology, precision casting and copper and aluminum fine machining.

Taizhou is known for its manufacturing industry and is an important manufacturing base in the Yangtze River Delta, said Hu Weikang, deputy director of Zhejiang's Department of Commerce.

The city is the export base for the first batch of auto and components, and is home to 12 listed pharmaceutical enterprises. Its general aviation, moulds and plastics, pumps and motors, sewing equipment and intelligent toilet industries are also very competitive.

Its exports accounted for 0.9 percent of the nation's total last year, and they were 0.94 percent in the first nine months of this year.

It is one of the top 100 foreign trade cities in China and ranked 71 last year.

The export of its mechatronics and high-tech products soared 14.1 percent in the first three quarters of this year compared to the same period last year, accounting for 63.8 percent of the city's total and ranking No.1 in Zhejiang.