Foreign investment in Jinshan jumps as leading global companies move in
A total of 21 advanced manufacturing plants and industrial parks started construction in suburban Jinshan District on Friday.
With a total investment of more than 4.6 billion yuan (US$ 653 million), the plants and parks are mostly the projects of leading global companies in high-end equipment, advanced materials, information technology and health science.
Jilin Optical and Electronic Materials Group, the leading OLED manufacturer in China, has invested 600 million yuan in a new R&D center in Jinshan which, according to the company, will be the largest OLED material R&D base in China.
“Shanghai is the center of the OLED industry in China,” said CEO Xuan Jingquan. “And many key enterprises of the industry are here in Jinshan, which gives us an upper hand to connect with potential clients and form an industrial ecosphere.”
Eight of the projects are foreign. Mankiewicz, a world-leading coating company which provided the interior coating China's domestically made C919 aircraft is one of them. The company invested 30 million yuan to expand its plant with new warehouses, factories and an emergency lagoon.
This year, Jinshan has attracted 5.3 billion yuan of foreign investment, up 300 percent year on year.