Changzhou National Hi-Tech District Brings in 39 Foreign-Invested Projects in H1

The new capital injections create manufacturing and service facilities spanning eight industry chains

Aug 17, 2015, 02:32 ET from The Publicity Department of Changzhou Xinbei District Commission of CCP

CHANGZHOU, China, Aug. 13, 2015 /PRNewswire/ -- Changzhou National Hi-Tech District in eastern China's Jiangsu province recently announced that the district successfully brought in 39 foreign-invested projects in the first half of 2015, encompassing eight industry chains including new materials, motor vehicles and automotive parts, photovoltaics and new energy, construction and agricultural machinery, healthcare, general aviation, smart grids as well as cultural entertainment and education. The projects included BAIC Motor's 5 billion yuan (approx. US$780 million) general aviation manufacturing and operation service hub for eastern China and ThyssenKrupp's US$100 million electronic power steering system manufacturing facility.

In early 2015, the district signed a cooperation framework agreement with Beijing General Aviation, under which the latter will invest more than 5 billion yuan over a five-year period to establish the sole general aviation manufacturing and operation service hub in eastern China at Changzhou Konggang Industrial Park. The hub will take over the responsibilities for delivery, assembly and refitting of fixed wing aircraft, helicopters and business jets as well as general aviation operations, maintenance, training, supply of replacement parts and management of information-based systems. Over time, the hub will broaden its range of operations by expanding into manufacturing as well as research and development of aircraft.

Changzhou National Hi-Tech District management committee director Wu Xiaodong elaborated on the recent performance of the district: "Changzhou National Hi-Tech District accomplished a GDP of 47 billion yuan (approx. US$7.3 billion) in the first half of 2015, up 11.5 percent compared to the corresponding period of last year. During the period, gross industrial output reached 161.7 billion yuan (approx. US$25.3 billion), up 10.0 percent compared to the same period a year earlier, sales revenue of manufactured goods and services topped 158 billion yuan (approx. US$24.7 billion), an increase of 9.7 percent, while earnings before taxes came in at 11.4 billion yuan (approx. US$1.8 billion), a rise of 15.0 percent.During the second half of this year, Changzhou National Hi-Tech District plans to continue to innovate and accelerate the construction of its key projects, in a move to take the district's economic development and contribution to the local economy to a new level."

SOURCE The Publicity Department of Changzhou Xinbei District Commission of CCP