Investment attraction puts NETDA on fast lane of development

In the first half of this year, Nantong Economic and Technological Development Area (NETDA) has signed contracts on 36 newly settled projects, involving a total investment of 40.8 billion yuan ($6.3 billion), an increase of 12.6 percent year-on-year. Among them, a group of 10 major projects worth over 1 billion yuan were started, with a total investment of 33 billion yuan. 

Additionally, NETDA's general public budget revenue was 3.97 billion yuan, up 19.8 percent year-on-year.  Its actual utilization of foreign capital amounted to $398 million, up 27.9 percent year-on-year, ranking first in total and second in growth rate in Nantong.  

By 2025, the development zone aims to increase its GDP to 120 billion yuan, its general public budget revenue to 10 billion yuan, as well as both the taxable sales of the industrial and service sectors to 100 billion yuan.  

The NETDA has spared great efforts to promote economic internationalization. Many companies have globally-leading technological and production capacities. They are separated into six major industrial clusters: modern equipment manufacturing, new materials, new medicine, new energy, modern textiles, and service outsourcing.

The development zone has grown into an advanced manufacturing base utilizing foreign investment in the Yangtze River Delta area and is a key industrial base in Shanghai's one-hour economic circle.

To date, its actual annual utilization of foreign investment has been maintained at around $600 million. In addition, more than 2,000 large-scale enterprises have been set up in the development zone, attracting more than 800 foreign-invested enterprises with a total investment of over $20 billion, among which more than 80 percent were established by Fortune 500 companies.