NETDA aims to become hub for industry, opening up and innovation

A bird's-eye view of NETDA. [Photo/WeChat account: gh_78ba52d6e1ed]

Nantong Economic and Technological Development Area, or NETDA, has formulated plans to become a hub for industry, opening up and innovation.

In the first two months of this year, the development area has secured 19 major industrial projects, marking a soaring start to the year. The area plans to bring in one project valued at 10 billion yuan ($1.39 billion), three projects valued at over 5 billion yuan, and 80 projects worth more than 500 million yuan per year.

Cao Haifeng, director of NETDA, noted that the development area will foster new productive forces in traditional, emerging, and future industries.

For example, it plans to take three to five years to introduce 30 to 50 manufacturers of core products in the hydrogen industrial chain, generating at least 50 billion yuan in output each year, and establish industrial parks for China-Japan cooperation, European and American intelligent manufacturing, future industries, and specialized enterprises.

A favorable business environment is indispensable to NEDTA's further development. Last year, the development area was ranked 17th in the nation among the top 30 areas in terms of business environment. This year, it will roll out more measures to offer more streamlined administrative procedures, convenient services, and preferential policies.

By 2030, NETDA's GDP is expected to account for 10 percent of Nantong's total, and the number of its permanent residents is projected to reach 450,000, becoming a major driver of growth in the city.