Nineteen projects represented by Dogain Laser Technology are signed to provide support for strengthening and extending industrial chains in Tongzhou district, Nantong. [Photo/WeChat account: wxtzfb]

The 2020 Tongzhou (South Jiangsu) Industrial Development Matchmaking Meeting kicked off in Suzhou, East China's Jiangsu province on Aug 29.

Nineteen projects represented by Dogain Laser Technology, with investment totaling over 20 billion yuan ($2.9 billion), were signed, providing support for strengthening and extending industrial chains in Tongzhou district, Nantong.

As the Su-Tong and Shanghai-Suzhou-Nantong Yangtze River bridges have successively opened to traffic, integration between the cities of Suzhou and Nantong has been accelerated.

Focusing on three major industrial chains – automobiles and parts, new generation of information technology and intelligent equipment, Tongzhou has issued all-round incentive and subsidy policies ranging from project introduction and landing to follow-up operation and contribution, and established a guiding fund for industrial development of more than 10 billion yuan.

Dogain Laser Technology, based in Suzhou, will invest one billion yuan in Tongzhou district for a project in photoelectric laser chips and devices production. The current situation in which over 90 percent of such products in China are imported will evolve after the project is completed and put into production.

Having signed the contract, Dogain will receive 50 million yuan from equity financing and 200 million yuan from the industrial development guiding fund.