Company representatives sign agreements at the business promotion conference of Changxi Island. (Photo: China Daily)
Twelve major industrial projects with a combined investment of nearly 10 billion yuan ($1.48 billion) were signed at a conference held in Shanghai on Sunday to promote the industrial economy of Changxing Island.
A string of policies to boost the high-quality development of the industrial economy of Changxing was also announced at the conference themed "New Smart Manufacturing, New Driving Force, and New Start".
The 12 projects signed by the Changxing Industrial Park and institutions including Shanghai Jiao Tong University and China United Investment Holding Co Ltd cover areas such as marine equipment, smart manufacturing, new materials, energy conservation and environmental protection, integrated circuit, biomedicine, and financial services.
The park currently has 10 major industrial projects worth around 12 billion yuan that are under construction.
The Changxing Island Development Office also signed collaboration framework agreements with the Shanghai Investment Promotion Center of the United Nations Industrial Development Organization and the Shanghai branch of Huawei. The office, the Chongming district government, and the Export-import Bank of China's Shanghai branch signed a three-party strategic framework collaboration agreement.
The Shanghai Changxing Industrial Investment Promotion Office and the Eastern Center of Chongming District's Administrative Service Center were also unveiled as means of further enhancing the local governance capacity and optimizing the island's business environment.
Li Zheng, Party chief of the Chongming district which oversees the Changxing Island, said that the district authority will strive to build Changxing into a leader in marine technology innovation.
Spanning 162 square kilometers, Changxing Island is located at the mouth of the Yangtze River. The island is home to a marine equipment industry and is a popular sightseeing destination. It has been designated as a national model base for new industries and a national-level demonstration zone for marine economy development.
Changxing Island is located 25 km from Shanghai's Lujiazui financial area. The planned metro line to Chongming Island will go through Changxing, making the latter just a 30-minute journey from downtown Shanghai.
With shores that are as deep as 22 meters, the island has an advantage in the industrial development of marine equipment and has already attracted leading enterprises in high-end manufacturing and technological innovation such as Jiangnan Shipyard, Hudong-Zhonghua Shipbuilding, Shanghai Zhenhua Port Machinery (Group) Co Ltd, and China Cosco Shipping Corporation Ltd over the past years.
Around 400 people, including government officials, executives from State-owned enterprises, and representatives from local towns, industrial parks, companies, and industrial associations attended the conference.