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Nantong sets goals for outbound investment

By Hu Xiaoyu chinadaily.com.cn Updated: 2019-02-01


A photo taken on June 29, 2018, shows Zhongtian Technology, a Nantong-based hi-tech group, showcasing its products at the 2018 Mobile World Congress in Shanghai. [Photo/IC]

Nantong aims to increase their outbound investment by $800 million in 2019, with revenue of outsourcing services reaching $1.6 billion.

The coastal city in Jiangsu province will actively participate in the Belt and Road Initiative (BRI), placing more emphasis on promoting cooperation with the BRI economies.

The city reported $1.05 billion in outbound investment last year, with several big projects settled, including a $50-million-manufacuring plant of Mlily, a leading mattress and pillow maker, in the United States, and Zhongtian Technology’s purchase of a Turkish cable company.

Located in the Yangtze River Delta, Nantong was among the first group of coastal open cities in the early years of reform and opening-up. It has made industrial development, public services, and transport networks the three major pillars in its economic construction, aiming to become a major force of opening-up in the delta region.