Huahui Industrial Park – the first industrial complex offering residential quarters in Nantong city in East China's Jiangsu province – officially opened its doors for business on May 29.

With the increasing scarcity of urban land resources, to squeeze more benefits from the remaining supplies of available land, Nantong's Chongchuan district has in recent years focused on attracting and developing much more efficient intelligent manufacturing.

The opening of Huahui Industrial Park reportedly marked the industrial concentration in Nantong's main urban area entering a new stage. Located in the Chongchuan Economic Development Zone, the 14-hectare park cost 2 billion yuan ($314.3 million) and building began last March.

Despite challenges, through the determined and concerted efforts of the investors and the municipal and district governments, it took a relatively brisk 14 months to complete the construction.

"It was difficult to start the project as scheduled amid the novel coronavirus epidemic prevention and control measures last year," said Wu Wendeng, a representative of the investors. "The rapid development of Huahui Industrial Park proves that Nantong and Chongchuan are hot areas for entrepreneurship."

At present, nearly 60 enterprises related to the new-generation information technology and intelligent equipment manufacturing industries have signed up to settle there, with more than 40 above a designated size – the statistical term for manufacturers with an annual revenue of 20 million yuan or more.

Moving forwards, Huahui Industrial Park is expected to become a highly desirable urban industrial complex that will contribute to the sustainable development of the regional economy.