According to Qidong administrative approval bureau, in the first half year of 2020, the city had 1,660 newly established enterprises, a year-on-year increase of 12.16 percent. New registered capital reached 12.4 billion yuan ($1.8 billion), and the economy in Qidong achieved sustained growth, local media reported.

By virtue of the development opportunities brought by the Yangtze River Delta integration, Qidong gave full play to the advantages of all-level enterprise-related and preferential policies designed to cope with the effects of the COVID-19 pandemic, and achieved continuous growth in the number of newly established enterprises and amount of project investment.

Seven foreign-funded enterprises were registered in Qidong, up 75 percent, while newly registered capital exceeded $280 million, up 361 percent and newly added investment reached $730 million, up 1,020 percent.

The industrial structure in Qidong has been increasingly optimized. The city has laid equal stress on epidemic prevention and economic development since the beginning of this year. The number of start-up enterprises in most districts and towns has maintained steady growth compared with 2019.

As a "hometown of construction", Qidong's construction industry has maintained strong development momentum, with 438 construction startups established in the first half of the year. Included in the Great Tongzhou Bay integration, Lyusi port plans to build a 100-billion-yuan industrial base centering on new materials, new energy and equipment manufacturing. A total of 225 startups were added in Lyusi port.

Qidong gives full play to the advantages of all-level enterprise-related and preferential policies to cope with the effects created by the COVID-19 pandemic, and achieves continuous economic growth. [Photo/ntfabu.com]