Area welcomed four dozen new mega-investment projects last year

With the surge of investment in major projects, the Tongzhou Bay area at the eastern end of Nantong has become a more powerful force in driving the city's development, local officials said.

Official statistics showed the bay attracted 48 projects last month from intelligent equipment, new energy and new material industries.

The total contracted investment volume reached nearly 100 billion yuan ($14.08 billion).

An arena for mega-projects valued individually at more than 10 billion yuan, the Tongzhou Bay has seen its companies resume work thanks to efficient prevention and control of the COVID-19 pandemic. Among them is Zenith Steel Group, which set up its Nantong branch in the bay last year.

The branch has planned its fine steel production project with a total investment worth over 100 billion yuan, according to Yin Guofu, the branch company's assistant to commander in chief.

The first phase of the project spans an area of 733.33 hectares, with an investment of about 50 billion yuan.

It is expected to be completed and put into operation by the end of 2021, Yin said.

"We have conducted field visits in the coastal cities along with Jiangsu province, and have finally selected the bay as a destination to settle down, thanks to its satisfying investment conditions," Yin said.

Compared to the company's headquarters in Changzhou of southern Jiangsu province, the Nantong branch helps save on logistics and human resources costs thanks to the bay's adjacent ports in Shanghai and Ningbo of Zhengjiang province, Yin said.

Linking ports and factories in the bay helps companies meet their development requirements.

Lu Weidong, director of the port development and construction committee of the Tongzhou Bay, said the bay has entered an important strategic opportunity phase of high-speed development.

It has grown into a new area to implement the national strategy, a new channel to promote Jiangsu's overseas development, and a new future to lead Nantong's development.

The bay will be a stage to attract professionals to realize their dreams thanks to its "emerging vitality", Lu said.