Nantong's NETDA honors its star entrepreneurs

The Nantong Economic and Technological Development Area, or NETDA – located in Nantong city in East China's Jiangsu province – held a commendation conference on Feb 9, to honor and pay tribute to those entrepreneurs who turned in outstanding performances in 2021.

A total of 42 entrepreneurs were given the title of "star entrepreneur" at the conference.

In 2021, despite the COVID-19 pandemic and the downward pressure on the economy, NETDA entrepreneurs are understood to have focused on the transformation, upgrading and innovation of their businesses, making important contributions to the economic development of the area.

The annual tax revenue of one of them, for example – Nantong Xingchen Synthetic Material Co Ltd – hit 616 million yuan ($97.35 million) last year, creating a new record for individual manufacturers in the NETDA.

Company chairman Pang Xiaolin, the only five-star entrepreneur honored at the commendation conference, said that his company had set a goal of achieving operating revenue of 7.38 billion yuan, net profit of 1.15 billion yuan and a return on equity of more than 32 percent in 2022.

Elsewhere, the supply of submarine cable solutions of another resident company, ZTT International Limited, ranked first in the world last year.

After receiving a four-star entrepreneur award, company president Xue Chi said his enterprise's future was in innovation.

"We will continue to increase investment in innovation and seize the development opportunities brought about by new infrastructure, new energy and China's pursuit of peak carbon emissions by 2030 and carbon neutrality in 2060," Xue added.

According to NETDA officials, the star entrepreneur selection is no longer based on the scale of production value, but highlights an enterprises' transformation and development and its tax contributions.