Working building of Shihlien Chemical Industrial, a Taiwan-invested company
Huai'an City is one of the regions with the most rapid growth for Taiwan investment on the Chinese mainland. The latest data shows by the end of 2017 the city had registered 1,275 projects with Taiwan funds totaling 18.15 billion US dollars, including agreed investment of 9.32 billion US dollars and actually received funds of 5.84 billion US dollars.
In 2006, the Huai'an Committee of Communists Party of China and the city government rolled out a strategy to attract Taiwan investment, enhancing the northern Jiangsu city’s role to be comparable to Kunshan in southern Jiangsu. To create a stronghold for Taiwan investment, Huai'an introduced what it called “1+4” projects.
The one means an emphasis on advanced manufacturing industries. Huai'an will center on its industrial advantages to target projects that are Taiwan-funded, large in scale, of high and new technology with low-energy consumption, on the high-end of the industry chain or with a long industry chain.
Four means building four industries – modern agriculture, the cultural and creative sector, health in the broader sense and finance – as growth points. First, efforts were made to expand the depth of cooperation in modern agriculture, actively attracting Taiwan investment to develop agriculture that can also be a sightseeing site, creative and ecological. Second, cooperation in cultural and creative industries were accelerated as animation companies invested by Taiwan with special strengths in research and development were welcomed to settle in Huai'an. Cultural charms based on the city’s history of water transport, connection to the Journey to the West and celebrities were also boosted amid efforts to build a cultural zone with a concentration of Taiwan investment. Third, a cluster of health industries was also established to attract Taiwan’s intelligent, digital medical equipment manufacturers, high-quality bio-pharmaceutical enterprises and large elderly care companies. The fourth initiative promotes financial links with a focus on attracting and encouraging Taiwan’s financial institutes to open headquarters or offices in Huai'an.