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The Jiangsu Rudong Yangkou Port Economic Development Zone – located in Rudong county, administered by Nantong city, in East China's Jiangsu province – recently joined forces with the Far East Holding Group.

The two signed an agreement on Jan 30 for the company to build a maritime engineering equipment industrial base in the zone, with an investment of 3 billion yuan ($473.6 million).

Jiang Xipei, founder and chairman of the Far East Holding Group, attended the signing ceremony. He spoke highly of Rudong's geographical position and business environment, adding that the county had broad and strong development prospects.

With Rudong's advantages, Far East Holding Group hoped to make contributions to Chinese manufacturing, Jiang said.

In 2021, Rudong's GDP reached 127.2 billion yuan. The county ranked 26th among the top 100 counties and county-level cities in business environment in China last year.