NETDA set to continue with stable growth in 4th quarter

The Nantong Economic & Technological Development Area or NETDA – located in Nantong city, in East China's Jiangsu province – is reportedly set to maintain stable growth in the fourth quarter.

That's because its manufacturing sector is capable of scaling up its production and attracting and expanding more investment, according to local media reports on Oct 12.

From January to September this year, the general public budget revenue of the development zone hit 5.52 billion yuan ($861.18 million), up 16.24 percent year-on-year, while the tax revenue accounted for 85.9 percent of the total general public budget revenue.

Projections are that in the fourth quarter industry and service taxable sales will come in at 130 billion yuan and 138 billion yuan, up 30 percent and 25 percent, respectively.  Imports and exports are seen in the period coming in at 39 billion yuan, up 25 percent.  

In the wake of the new pattern of investment promotion, 15 major projects with a total investment of more than 1 billion yuan have been signed in the development zone, with a total investment of 50 billion yuan. By the end of September, $500 million of foreign investment had been actually received.