Taichung Continues Strong Growth, Leading in More Than Half of the 8 Key Indicators for 14 Consecutive Quarters.

Taichung has led in over half of the 8 key indicators for company and business registrations for 14 consecutive quarters, showcasing its stable economic growth. “Since Q4 2019, Taichung has published quarterly national rankings of economic indicators from the central government. Among these, 8 key indicators from the Ministry of Economic Affairs (MOEA)—including growth in registered companies, businesses, capital amounts, and growth rates—reflect Taichung’s consistent advancement. Starting with three top rankings in 2019, Taichung has maintained at least four top positions each quarter since Q2 2021. In Q4 2023, the city reached a record seven top rankings, demonstrating its growth potential," said the Economic Development Bureau of the Taichung City Government.

The Economic Development Bureau mentioned that company registrations, representing larger organizations, better reflect industry trends and help forecast economic outlook, while business registrations indicate the city's supportive environment for entrepreneurship.

The Economic Development Bureau highlighted that Taichung's consistently strong indicators not only show businesses' recognition of Taichung’s entrepreneurial environment, but also reflect a rising trend of larger companies registering with robust capital. This aligns with the 'Invest Taiwan' program, which approved 323 companies in Taichung—the nation ‘s highest—demonstrating the intense interest of enterprises increasingly establish and expand here.

The Economic Development Bureau explained that the growth in the number of companies and businesses, as well as their capital amounts, has driven Taichung’s overall economic performance, a trend confirmed across multiple indicators.

In September this year, Taichung ranks first among Taiwan’s six major cities for improvement in the 'Economy and Employment' category in Global Views Monthly’s ' 2024 County and City Overall and Sustainable Competitiveness Survey.' Additionally, Taichung’s income tax revenue rose from NT$33.5 billion in 2019 to NT$54.6 billion in 2023, up over 60%, while business tax revenue grew nearly 30%, from NT$55.9 billion to NT$71.9 billion—reflecting steady income growth for residents and businesses alike.

The Economic Development Bureau added that since 2019, Taichung has steadily grown despite global challenges. Amid the AI boom, the city plays a crucial role, supported by strong industries like machine tools and optoelectronics, and a complete semiconductor supply chain with companies like TSMC, Micron, and Tokyo Electron. With a population of over 2.85 million driving consumption, Taichung's commercial environment remains vibrant.

This year, the Taichung city government continues to launch festival-driven economic initiatives, including the market consumption vouchers, Taichung Hot Pot and Grill Festival, and Taichung Shopping Festival, has energized regional consumption and economy. The 2024 Taichung Shopping Festival launched on October 24, drawing participation from tens of thousands of businesses. Department stores, restaurants, and hotels have all rolled out promotions, boosting consumer spending, which has already reached near NT$10 billion by the third week. This impressive figure showcases Taichung’s remarkable spending power and overall commercial momentum. Moreover, the city continues to remove investment barriers, advance major projects, and create a business-friendly, livable city for residents and enterprises.

Advertorial by Economic Development Bureau, Taichung City Government