Dongtai signs US$850 million of foreign capital projects
Cities in the Yangtze River Delta region have stepped up their efforts to attract foreign investment, exploring the expansion of cooperation areas, and the city of Dongtai in neighboring Jiangsu Province signed agreements for 20 foreign capital projects on Tuesday.
Dongtai is home to the Yellow Sea National Forestry Park and the Tiaozini Wetland, a World Natural Heritage Site and a habitat for more than 6 million migratory birds of over 400 species every year.
In total, 33 projects covering areas such as tourism and health, new-generation information technology, new-energy auto parts, and industrial automation were signed by Dongtai, among which 20 were foreign-funded projects worth US$850 million.
The city has been actively integrating into the "one-hour economic circle" of Shanghai and Suzhou, and more than 80 percent of new projects landing in Dongtai every year are from these two cities.
Foreign investment is an important impetus for the city's development, the city government said.
So far, the city has attracted 345 foreign-funded enterprises from over 30 countries and regions and it is accelerating the construction of a green and low-carbon development demonstration zone, a national tourism resort and a famous high-end health tourism destination.
The city's new-generation information technology, new energy, new materials, high-end equipment, and big health are advantage industries, and development of its green industries such as digital economy, crystalline silicon photovoltaic, and energy storage cells is on the fast track.