NETDA paves way for major projects

From the very start of the year, the Nantong Economic & Technological Development Area or NETDA – which is located in Nantong city in East China's Jiangsu province – has focused on the rapid development of industries and businesses that leverage local strengths and implement projects.

In this endeavor it has achieved resounding results in the first three quarters of the current year, according to local media reports on Oct 29.

In the nine-month period, the general public budget revenue of the development zone hit 50 billion yuan ($8.6 billion), up 16.24 percent year-on-year.

In the wake of the new pattern for investment promotions, 15 major projects with a total investment of more than 1 billion yuan have signed up to come to the development zone, with a total investment of 50 billion yuan. By the end of September, $500 million of foreign investment had been received.

Projections are that in the fourth quarter, industry added value and service taxable sales will come in at 130 billion yuan and 138 billion yuan, up 30 percent and 25 percent, respectively.  Imports and exports are seen at 39 billion yuan, up 25 percent.