A one-stop market access service hall in Qidong. [Photo/WeChat account: qidongfabu]

Huilong town in Qidong, Nantong, Jiangsu province is aiming to attract three foreign-funded projects with an anticipated foreign capital inflow of $20 million in 2024. The town is currently in negotiations with three potential foreign-invested projects and actively monitoring over 10 promising opportunities.

Last December, two Taiwan-based companies, Hongguang Vehicle Equipment and Ruizhen Bicycle Component, finalized agreements with Huilong town, planning to commence construction on their new factories in the first half of this year. Gong Xiaofeng, a staff member at the investment promotion bureau of Huilong town, said the bureau is committed to providing comprehensive services ranging from registration to the opening of foreign currency accounts for newly established foreign-invested enterprises.

In the Chengbei Industrial Park of Huilong, the Fengshu Comprehensive Industrial Park, with a total investment of $100 million, is rapidly taking shape. The dual-story factory buildings are nearly complete, and the project is expected to be fully operational by the third quarter and achieve annual taxable sales of $400 million. 

Lu Li, vice-mayor of Huilong, said that the town government is dedicated to efficiently servicing various procedures, coordinating construction-related issues, and facilitating post-investment operations to meet the needs of investors.