A total of 56 projects are signed at the 2020 China Hai'an Investment and Trade Cooperation Fair which opened at Oct 30. [Photo/WeChat account: hafbwx]

The 2020 China Hai'an Investment and Trade Cooperation Fair kicked off on Oct 30. Over 500 representatives from overseas embassies and consulates in China, Fortune 500 enterprises and listed companies attended the fair which has become an important platform to promote exchanges and enhance cooperation with new and old customers from all over the world.

A total of 56 projects were signed at the fair, of which 36 will be funded by domestic capital valued at 67.1 billion yuan ($10 billion) and 18 attracting foreign capital investment valued at $1.65 billion.

By virtue of thoughtful and outstanding services, Hai'an, a county-level city in Nantong in East China's Jiangsu province, has attracted numerous renowned corporations to set up offices there, such as Amer International Group and SAIC Motor.

A string of outside enterprises that have settled in Hai'an have increased investment and speeded up industrial layout since 2018. At present, construction has started on 53 additional investment projects valued at 23.33 billion yuan.

The additional investment has become an economic growth point for the city. Jiangsu Hongsheng New Material Co Ltd is one of the key leading companies supported by Hai'an Polyamide Industrial Park. The enterprise has continuously expanded its scale since settlement in 2013.

On May 18, work started on the 5-billion-yuan third phase of Hongsheng's expansion and it is expected to be completed in 2022. After it goes into full production, the company's annual sales revenue is expected to exceed 10 billion yuan.