Nantong High-tech Zone to lure more projects in key sectors
The Nantong National High-tech Industrial Development Zone is developing a thriving integrated circuits industry. [Photo/ntfabu.com]
The Nantong National High-tech Industrial Development Zone – located in the Tongzhou district of Nantong city in East China's Jiangsu province – will engage in a big push to attract more projects from major industries to come and settle there.
This year it will make greater efforts to attract projects especially in the automobiles and parts, new-generation information technology and intelligent equipment sector, to bolster Tongzhou district's strategy of boosting the three key industries.
At a meeting on Jan 31, intensified measures were called for to promote its investment attractions. It was announced that professional investment promotion teams would be set up and that they will be tasked with ensuring that 80 percent or more of newly signed and registered industrial projects and technological innovation projects in the zone will be focused on the three major industries.
The Nantong hi-tech zone has a solid industrial foundation for related developments and is continuing to show a strong appeal to investors, making it highly likely it will meet the target.
For example, an integrated circuits components industrial park was established there on Oct 31 last year and its stable stimulus policies have reportedly acted as a magnet to attracting new projects.
The zone's policy – the Several Opinions on Supporting the Development of the Integrated Circuits Industry – is a case in point. It provides support from financial subsidies to talent, for equipment purchases, technology research and development – and for financing loans for integrated circuits manufacturers, research and development institutions and teams who will settle in the zone.
Last April, the Nantong Zhihui Industrial Investment Fund became operational there, with a total scale of 3 billion yuan ($464.4 million). The first phase has an investment of 800 million yuan, with plans to build one or two sub-funds to help grow enterprises and projects with high technology content. One official said it has great market potential to develop, in line with the high-tech zone's industrial development path.
