A signing ceremony for an industrial complex is held in Qutang town in Hai'an, Nantong, East China's Jiangsu province on Aug 19. [Photo/WeChat account of Hai'an release]

A signing ceremony for an industrial complex was held in Qutang town, Hai'an, Nantong, East China's Jiangsu province, on Aug 19, according to local media reports.

The complex received 4 billion yuan ($ 567 million) in investment and the construction area of the industrial complex project is about 800,000 square meters.

The project is meant to serve small and medium-sized manufacturing enterprises and form a technological innovation complex focusing on manufacturing, research and development, e-commerce, warehousing, logistics, financial services, and intelligent park management.

It will mainly focus on light fashion products such as cases and bags, which will be supplemented by equipment manufacturing, automobile and motorcycle parts, and electrical and electronic products.

According to local authorities, the project is divided into three phases and the annual output value is expected to exceed 3 billion yuan after all enterprises set up operations in the park. Over 10 enterprises have already decided to set up factories and shops there.

Qutang town's strong industrial foundation, convenient location, and efficient government services are expected to help the park further promote the improvement of Hai'an's luggage industrial chain and the development of related industrial parks.

The project is also expected to serve as an example for industrial cooperation in the integrative development of the Yangtze River Delta.