Chongchuan makes strides in high-quality development in H1
Chongchuan district in Nantong, East China's Jiangsu province, has made strides in advancing high-quality development during the first half of this year, ranking sixth among all districts in the province, according to the latest report released by CCID Consulting.
An important factor contributing to this advancement is the growing number of projects initiated in the district, one of which is the establishment of L'Oreal's China Luxe Intelligent Fulfillment Center in the Chongchuan Economic Development Zone in March of this year. The project marked the zone's first major direct investment from a European Fortune 500 company.
So far this year, Chongchuan has attracted 26 new projects at the municipal level, 82 key district-level projects, and 102 projects focused on scientific and technological innovation. Additionally, 11 high-tech enterprises from outside the city have set up operations in the district. Actual utilized foreign investment in Chongchuan has reached $135 million.
Furthermore, the district has been actively advancing innovative reforms within local enterprises to promote green industrial development. Nearly half of the 200 production lines at Nantong New Technology Monofilament Technology Co Ltd have transitioned to intelligent manufacturing. Eta Semiconductor Limited has achieved breakthroughs in core indicators such as withstand voltage, power density, and static power consumption.
The rapid expansion of the modern service industry has also played a pivotal role in propelling high-quality development in Chongchuan. During the first half of the year, the district attracted over 30 first stores of domestic and international brands. The profit-oriented service sector witnessed remarkable growth of 26.7 percent in turnover, the highest growth rate in the city.
In order to attract more enterprises to Chongchuan, the district has enhanced its business environment. Local authorities have introduced an array of favorable policies and allocated industrial funds totaling 238 million yuan ($32.55 million) to 12 enterprises. Moreover, 8 enterprises have secured equity investments exceeding 1 billion yuan.
