Qutang town in Hai'an, a county-level city in Nantong, Jiangsu province, recently witnessed the groundbreaking ceremony of a production facility funded by Jiangsu Xijiu Intelligent Equipment Manufacturing Co Ltd.

With a total investment of 500 million yuan ($69.48 million), the project spans an expansive 23,000 square meters. It will focus on both high-end pneumatic and intelligent hydraulic equipment as its main industries.

Noting the business-friendly environment in the town, Gong Laiwang, general manager of Xijiu Intelligent Equipment, said, "From negotiations to groundbreaking, the entire process took just three months.” 

According to Gong, the project is expected to generate an annual output value of 500 million yuan and contribute over 30 million yuan in taxes. Currently, the company is accelerating construction progress and aims to achieve production by the end of October.

Qutang town has experienced a steady increase in the number of new industrial projects and businesses operating in the area.

Last year, the town saw substantial progress with the commencement of 13 projects valued at over 100 million yuan each, including two projects each worth 500 million yuan and one specialized project valued at 100 million yuan. In 2023, the town achieved a total industrial invoiced sales of 15.39 billion yuan.

Looking ahead to 2024, there are already 13 projects with a value exceeding 100 million yuan in the pipeline, including two projects valued at 500 million yuan each. Additionally, more than 10 projects with a value over 100 million yuan each are currently in negotiation.

A groundbreaking ceremony for Jiangsu Xijiu Intelligent Equipment Manufacturing Co Ltd's project takes place in Hai'an. [Photo/Nantong Daily]