A round-table dialogue at the summit. [Photo/WeChat account: gh_78ba52d6e1ed]

Officials of Nantong Economic and Technological Development Area, or NETDA, recently promoted the development area in Shanghai at a summit with multinational corporations.

Cao Haifeng, director of NETDA's management committee, noted that the development area is one of the first of its kind approved by the State Council, and emphasized that it aims to become a hub for opening up.

Currently, NETDA is home to over 2,000 companies above designated size, including more than 900 foreign-invested businesses with a combined investment exceeding $30 billion. The area has attracted a group of renowned MNCs to fund their Chinese headquarters, Cao added.

NETDA has set up funds with a total value of 7 billion yuan ($972.39 million) to support new-generation information technology, biological medicine, intelligent manufacturing, and new energy industries, according to the director.

This year marks the 40th anniversary of NETDA's establishment, and Cao invited participating entrepreneurs to visit the area and experience its vigorous development.

He promised that the area will create a law-based and first-class business environment and roll out more measures to facilitate trade.

During the summit, NETDA signed a letter of intent on strategic cooperation with Brice Valley Entrepreneur Elite International Club. Both sides will cooperate in project introduction, technological innovation, brand marketing, and more.