A signing ceremony was held on March 1 for a 1.5-billion-yuan ($230.85-million) headquarters project for Nantong Jianghai Capacitor Co Ltd – which will settle in the Tongzhou district of Nantong city, in East China's Jiangsu province – the latest in a raft of ventures that will land there.

The project will occupy a total area of 2.46 hectares and plans are for it to have R&D centers and business office buildings, aimed at upgrading the electronics components industry in Pingchao town.

So far this year, 33 projects have signed up to settle in Tongzhou involving 26 billion yuan in investments. They include a modern electronics industrial park, an auto parts production plant, laser automation equipment and an automotive lightweight industrial park – mainly covering automobiles and parts, new-generation information technology and intelligent equipment.

One official at the ceremony made special mention of Tongzhou's "funds + industrial park" model which has proved to be really effective.

An optoelectronics industrial park, to be built for 3.4 billion yuan in the Nantong National High-tech Industrial Development Zone, will feature "a fund for a park, a leading industry, a scientific research institute, a leading enterprise and an international innovation center," the official added.

A cluster of more than 40 upstream and downstream enterprises in the semiconductor optoelectronics industry chain will be established.

Tongzhou has reportedly developed an online platform to carry out investment promotions work in a more coordinated and efficient way.