NETDA's GDP grows 7.7% in H1

A workshop of a photovoltaic facility in the Nantong Economic and Technological Development Area, East China's Jiangsu province [Photo provided to NETDA] 

The GDP of the Nantong Economic and Technological Development Area (NETDA) in East China's Jiangsu province expanded by 7.7 percent to 41.46 billion yuan ($5.75 billion) in the first half of this year, according to authorities.

The output value of the area’s biomedicine, new-generation information technology, new energy and high-end equipment industries increased by 13 percent, 14 percent, 20 percent, and 50 percent, respectively.

This was largely due to efforts by authorities to attract scientific and technological innovation projects, with 101 such projects secured from January to June. The output value of NETDA's high-tech enterprises accounted for 53.14 percent of the area's total industrial output.

Another significant contributor to the growth was the local government's efforts to attract major and foreign-funded projects, with agreements for 32 projects with a combined investment of 27.5 billion yuan signed over the period and construction of 17 projects with a combined investment of 32.4 billion yuan started.

The area's actual use of foreign capital was $430 million in the January-June period.

Authorities also released its economic development goals in the second half of this year at a conference on Aug 5. According to the conference, NETDA aims to sign agreements for 80 projects with an investment of 500 million yuan each and the actual use of foreign capital will hit $750 million.

In addition, authorities will make efforts to ensure the implementation of 35 measures recently unveiled to optimize the business environment and make it possible for the installation of equipment for nine completed projects to be finished as soon as possible.