NETDA plays vital role in high-quality urban development

The Nantong Economic & Technological Development Area or NETDA – in Nantong city, in East China's Jiangsu province – has spared no effort in promoting its internationalization and many of its resident companies reportedly already have global leading technology and production capabilities.

From January to June, a total of 36 new projects with a total investment of 40.8 billion yuan ($6.3 billion) signed up to come to the NETDA.

In addition, 10 new projects each worth over 1 billion yuan are under construction, with a combined total investment of 33 billion yuan.

Another 21 projects amounting involving 100 million yuan each are in their initial stage.

All these new projects are expected to provide a boost to high-quality economic development in the city.

It's understood that the NETDA authorities have closely cooperated with project teams and as a result companies have secured the land-use rights in record time, which is said to reflect the new speed and efficiency of the administrative process.

One example is a project for Jiangsu Gensciences Bio-Pharmaceutical Co Ltd, with a total investment of 5 billion yuan – of which about 1 billion yuan is being invested in equipment and 1 billion yuan in research and development.

The project site covers 853,333 hectares and the total construction area involves floor space of about 125,000 square meters. After the project is completed, the estimated annual output value will be 2 billion yuan.

In terms of urban construction, in the first half of the year the NETDA mainly focused on transforming inefficient land use, the promotion of a chemicals industry park and the rejuvenation of areas in the Yangtze River Delta region.  

Statistics showed that in the first six months, the region's GDP and the general public budget revenue of the development zone increased by 12.6 percent and 19.8 percent respectively, while foreign direct investment and the value of import and export ranked first and second in Nantong.