In recent years, the Zhangjiagang Economic and Technological Development Zone (ZETDZ) has been dedicated to creating a first-class business environment, which has attracted significant investment.
By the end of July, ZETDZ had signed agreements for 14 projects this year, each exceeding 100 million yuan ($14.1 million) in investment, totaling 12.28 billion yuan. Four of these projects have received over 1 billion yuan in investment.
Projects surpassing 100 million yuan have achieved 93 percent of their annual progress target, while those exceeding 1 billion yuan have reached 80 percent.
From January to June, the total industrial output value of enterprises above designated size reached 51.95 billion yuan, a year-on-year increase of 15.7 percent. Foreign capital utilization hit 147 million yuan, a remarkable 421.4 percent year-on-year surge.
A notable example is CTR Group's lightweight control arm project for new energy vehicles, marking the South Korean group's third investment in ZETDZ. With digital and intelligent production, the project is expected to produce 55 million key lightweight chassis components annually and generate annual sales of 1 billion yuan at full production capacity.
Kim Jin-wook, general manager of CTR's Zhangjiagang plant, stated that the company chose ZETDZ for its advantageous location, industrial clustering, and dedicated investment promotion team. He highlighted that this project was the first in the city to commence construction immediately after acquiring land. The group is committed to deepening its presence in China and highly values ZETDZ's business environment, he added.
An aerial view of CTR group's Zhangjiagang plant. [Photo/WeChat account: zhangjiagangfabu365]
Looking ahead, ZETDZ will focus on three main industries — automobiles and auto parts, new energy, and compound semiconductors, attracting advanced manufacturing and high-end service projects to foster high-quality development.