Economic indicators

Facing the COVID-19 pandemic and slumping economy in 2020, the Nantong Gangzha Economic Development Zone in East China's Jiangsu province achieved regional GDP of 22 billion yuan ($3.4 billion) – up 3.4 percent on the previous year and higher than the average growth rate of the Chongchuan district, the main urban area of Nantong.

Investment promotion

The Nantong Gangzha Economic Development Zone successfully attracted 11 mega and major projects in 2020 and five scientific and technological innovation projects, as well as nine projects with investment of over 100 million yuan each. Four large foreign-funded projects were attracted to settle in the zone, with foreign investment of $50.95 million.

Project construction

In 2020, construction of eight mega and large projects started, with 650 million yuan in industrial investment and 4.31 billion yuan in service industry investment. The Nantong Gangzha Economic Development Zone completed 13 new major projects last year and invested 650 million yuan in new equipment to continue major projects.

Targets in 2021

The main target of the Gangzha Economic Development Zone this year is to achieve a growth rate of over 8 percent in GDP. Revenue in the general public budget, industrial taxable sales and service taxable sales are planned to reach 1.17 billion yuan, 29.2 billion yuan and 42.6 billion yuan, respectively – up 23 percent, 20 percent and 20 percent. R&D investment in the current year is projected to account for over 2.7 percent of its GDP. In addition, the zone aims to attract $100 million in foreign investment.