Gangzha reaps bumper harvest of new projects
A signing ceremony for 10 projects worth some 8 billion yuan takes place at a Gangzha district investment promotion held in Shanghai on May 23. [Photo/official WeChat account of Gangzha district government]
Gangzha district in Nantong city signed a total of 10 new business projects -- worth a total of 8 billion yuan ($1.16 billion) -- at an investment promotion held in Shanghai on May 23.
The event was typical of Gangzha district's recent efforts to attract quality projects and large projects, in order to boost local development.
Motovis, a company from Shanghai engaged in the autonomous driving system sector, said it will construct an autonomous driving and machine vision R&D and auto production base in Gangzha district with expected annual sales teaching 1.87 billion yuan once it goes into operation in 2023.
"We chose to invest in Gangzha due to its location and the local emerging auto electronic information industry and we can share resources by participating in the development of the auto electronic information industry," said Yu Chengyi, director of the Motovis project management department, at the investment promotion in Shanghai.
Apart from investment harvests in Shanghai, Gangzha district is stepping up cooperation with more companies and industrial parks in line with its industrial development -- by organizing investment promotions in the city of Shenzhen, in southern Guangdong province, as well as in Japan and South Korea.
Gangzha Economic Development Area will expand business matching with industrial parks like Zhongguancun Science Park, to transform local business incubators. Shibei High-Tech Park in the district plans to attract over 10 large projects based on its partnerships with giants such as Huawei, Tsinghua holdings and Microsoft.
The district aims to attract at least three projects in the second quarter of this year and ensure nine projects go into production, according to Huang Weifeng, Party chief of the district.