Tai'an bolsters efforts to develop automobile, parts industrial chain

Nine projects worth a total investment of 2.5 billion yuan ($345.17 million) and related to fields like new energy vehicles and automobile parts, and automobile new materials were signed during a ceremony in Feicheng, a county-level city of Tai'an, on June 30.

Statistics show that from January to May, 63 companies above designated size involved in the automobile and parts industrial chain generated a combined operation income of 4.26 billion yuan, a year-on-year growth of 17 percent.

During the same time period, Tai'an launched 41 new projects and completed fixed asset investment worth 490 million yuan. 

Tai'an's automobile and parts industrial chain now has 24 national-level high-tech companies, 20 new specialized small and medium companies at and above the provincial level, three "gazelle" companies, one manufacturing "champion" company, and three industry leading companies.