The CEC Eastern Intelligent Valley, located in the Chongchuan Economic Development Zone, celebrates its launch. [Photo/WeChat account: chongchuanonline]

A groundbreaking ceremony for four major projects in Chongchuan district of Nantong city in East China's Jiangsu province was held on Feb 8.

The CEC Eastern Intelligent Valley, located in the Chongchuan Economic Development Zone in the district, was co-invested by China Electronics Optics Valley Union Holding Co – a subsidiary of China Electronics Corp – and Caihong Group Co Ltd. It aims to create an industrial resource sharing platform characterized by industrial clustering, intelligent services, and network-based investment.

With a total planned area of 67 hectares, the first phase of the project, covering 17.3 ha of land, has started construction and is expected to be completed and come into production in June 2023.

In recent years, Chongchuan district has adhered to giving priority to project construction and continuously devoted more efforts to attracting investment in order to support its industrial system.

In 2021, Chongchuan attracted 36 industrial projects with a total investment valued at 28 billion yuan ($4.4 billion), among which 19 projects were worth 1 billion yuan and more. The average time for administrative approval of major projects were cut down to be within 20 working days.