The Qianduo scenic spot in Xinghua attracts many visitors who come to admire the cole flowers each year, among other things. [Photo/WeChat account: xinghuafabu]
The 2023 Xinghua spring investment and trade fair was held on March 19 in Xinghua – a county-level city administered by Taizhou in East China's Jiangsu province – attracting the attendance of more than 100 company representatives.
Some 45 projects costing a combined 20.9 billion yuan ($3.04 billion) were signed up at the fair, including seven major projects costing 1 billion yuan each.
According to a city official, a noteworthy aspect was that they included a raft of new projects of companies that had not yet settled in Xinghua, as well as local secondary transformation projects.
One 3.1-billion-yuan project is being funded by Jiangsu Qihou Intelligent Electrical Equipment Co Ltd, from Nanjing city in Jiangsu province. The company will build a manufacturing base for new energy equipment, prefabricated compact substation equipment and intelligent distribution equipment in Xinghua.
In addition, a fabricated integration architecture construction project with investment of 1.5 billion yuan will be settled in Xinghua. The facility is projected to generate 3 billion yuan of output value at full capacity and can drive the output value of downstream and upstream industries to the tune of nearly 20 billion yuan.
What's more, Xinghua is welcoming aboard more than 10 new transformation projects from local businesses. One of them is a high-end special alloys new materials research and development and precision manufacturing technology transformation project, which will generate annual sales of 1.2 billion yuan and 50 million yuan in tax revenue.
The fair is known as one of the nine major events of the annual cole flowers tourism festival, which is scheduled to start in the Qianduo scenic spot in Xinghua on March 23.