TCL, Huafa, others invest billions in scores of projects

Multi-billion-dollar investment projects led by TCL Corp, a Chinese multinational electronics company owning one of the world's largest television brands, and Huafa Group were contracted at a ceremony for 109 projects for Zhuhai at Fushan Industrial Park on July 28. In all, the investments signed total 83.6 billion yuan ($12.4 billion).

TCL will invest 10 billion yuan ($1.5 billion) in Hengqin New Area with focus on research, development, and application of cutting-edge technologies. Furthermore, the company will develop industrial financial services. As a result, Hengqin is to be positioned as a strategic stronghold of TCL to accommodate some key projects.

Those projects include cloud-based computing technology, AI (artificial intelligence) relying on big data analysis and deep learning, and VR (virtual reality) and AR (augmented reality) technologies. TCL also intends to set up a global software R&D center, finance and leasing company, financial technology firm, and industrial park development holding company in Hengqin.

A professional team of more than 8,000 people is to be formed within three years, engaging in R&D, business expansion, and operations. 

Signing ceremony for many projects [Photo by Zhao Zi / Zhuhai Daily]

Continued discussions with Hengqin authorities are expected for cooperation in the China-Latin America Economic & Trade Cooperation, Smart City construction, and other areas, a company executive said.

According to a government spokesperson, 49 projects are valued at 500+ million yuan ($74.3 million), including seven to locate in Hengqin New Area, seven in Jinwan District, six in Doumen District, and eight at the Zhuhai Hi-Tech Industrial Development Zone.

Furthermore, the Zhuhai Free Trade Zone obtained one agreement while Fushan Industrial Park in Doumen District attracted two. Xiangzhou District and the Gaolan Port Economic Zone will be the sites for nine projects, respectively -- the largest number.

Involving electronics and information, equipment manufacture, biomedicine, new materials, and fine chemicals, the projects will boost the local real economy, the spokesperson said.

Inauguration and completion ceremony for projects in Xiangzhou District [Photo by Cheng Lin / Zhuhai Daily]

Huafa Group plans a total investment of 40 billion yuan ($5.9 billion) to develop Fushan Industrial New Town in Doumen District in cooperation with the Administrative Committee of Fushan Industrial Park. The first phase will cost 20 billion yuan ($3 billion).

A series of development and management measures are planned for the 152.53-sq-km urban complex, including planning researches, land consolidation, municipal infrastructure construction, construction and operation of public and industrial support facilities, business introduction, and investment promotion.

The park administrative committee now has city-level authority to exercise economic management and to handle economic affairs and other administrative work.

Zhuhai has been committed to promoting industrial park quality and efficiency over the past few years, endeavoring to ignite economic development with construction of industrial parks, the spokesperson asserted.