The signing ceremony for Ruibai Group's new electronic chemicals and green solvents project is held in Rugao, Nantong. [Photo/WeChat account: rugaofabu]

The signing ceremony for Ruibai Group's new electronic chemicals and green solvents project was held in Rugao, Nantong, Jiangsu province on May 22.

With a total investment of 1.05 billion yuan ($144.92 million), the project is expected to achieve annual sales of no less than 4 billion yuan, providing strong momentum for the high-quality development of the city's chemical new materials industry.

Zhu Bing, chairman of Ruibai, emphasized the significant port and financial advantages Rugao possesses, which are crucial for the company's development. He explained that Ruibai's main business involves acetate and materials for lithium batteries, with products exported to more than 80 countries and regions. The company's methyl acetate production technology is at the forefront of the industry, accounting for more than half of the market share in China.

He Yijun, Party secretary of Rugao, said the county-level city will provide professional services and the best business environment to facilitate the rapid construction of the project. He looks forward to deeper cooperation between the two sides in areas such as market expansion, professional talent cultivation, and industrial technology innovation.