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30 project deals signed in Rugao


Updated: 2020-06-08

A total of 30 industrial project deals worth 42 billion yuan ($6.09 billion) in investment were signed in Rugao, a county-level city in Nantong on June 6.

The projects are related to an array of fields such as intelligent equipment manufacturing, new energy vehicles, automotive parts, high-end materials, new-generation information technology, and third-generation semiconductors.

Zhang Jianhua, secretary of the Communist Party of China Rugao committee, addressed the signing ceremony. He presented a series of figures, showcasing Rugao's development potential and favorable environment for living and doing business.

According to Zhang, the availability of an advanced transport network today means that people need only one hour to travel from Rugao and Shanghai.

Over the past four years, the city has used 153.8 billion yuan in the construction of industrial projects. So far, emerging industries have accounted for nearly 30 percent of businesses above designated level – those with an annual revenue of 20 million yuan and above – in the city.

The local government has worked to streamlined administrative procedures. Projects worth 1 billion yuan and above are able to start operations just 288 days after the deals are signed, said Zhang.

Looking ahead, the city is aiming to attract 50 billion yuan of investment in industrial projects each year and make the list of China's top 20 counties in terms of economic development.