An aerial view of Jiang'an town in Rugao, Nantong. [Photo/WeChat account: rugaofabu]

Jiang'an town in Rugao, Nantong generated 2.44 billion yuan ($377.44 million) in taxable industrial sales revenue from January to May, up 57.63 percent year-on-year, local media outlets reported.

Of that, the taxable industrial sales by companies above designated size, those with annual revenue of 20 million yuan and over, were valued at 1.55 billion yuan, an increase of 59 percent year-on-year.

During the first half of this year, Jiang'an town has made great efforts to attract investment, with two projects progressing smoothly, two project deals signed, and six projects under discussion.

Emphasis has been put on the three pillar industries of smart equipment manufacturing, automobile parts, and high-end new materials.

In addition, the local government has taken measures to cut industrial overcapacity, as well as to promote industrial transformation and upgrading to achieve high-quality growth.

The town has also been accelerating the construction of a high-end technology industrial park in its eastern area and has ensured the quality of infrastructure construction, such as roads, water and power supply, as well as the drainage system.

Tax cuts have been strictly implemented according to the requirements by the central government, while continuous support has been given to private businesses, as well as micro-, small-, and medium-sized enterprises.