SOEs spur high-quality NETDA development

The Nantong Economic & Technological Development Area or NETDA – located in Nantong city in East China's Jiangsu province – is closely focused at the moment on its emergence as an "industry benchmark, innovation highland, demonstration development zone and efficiency window".

It is also focusing on the goal of "building a first-class development zone in the Yangtze River Delta or YRD with the most competitive advantages, through the modernization of leading industries and the integration of industry and city," according to local media reports on Nov 7.  

Two resident State-owned groups – the NETDA Holding Group and the Weifu Group – are said to have squarely got behind the mission and engaged in fully performing the six important functions of securing investment, financing, planning, construction, management and operations.  

At the start of April, a group of 31 major projects with a total investment of 57.8 billion yuan ($9.04 billion) being funded by the NETDA Holding Group started construction in the development zone.

Wang Yali, a spokesman for one of them – the Jiangsu Gensciences Bio-Pharmaceutical Co Ltd project, with a total investment of 5 billion yuan – said that the high-quality business environment, broad development space and proactive services provided by the zone's various departments boosted the confidence of enterprises to settle there.  

Wang Zhibing, chairman of the Wei Fu Group, said that as a State-owned enterprise, it should fulfill its responsibilities, enhance reforms, focus on innovation, as well as concentrate on becoming stronger, better and bigger and carry forwards the transformation and upgrading and development.