A total of seven areas in Jiangsu, including the Nantong Economic and Technological Development Area (NETDA), were recently recognized as demonstration zones using foreign investment for industrial transformation and development by the provincial department of commerce.
NETDA leads the city and province in the use of foreign investment, which has accounted for $2.22 billion since 2011. Over 10 Fortune Global 500 enterprises, including Merck Group, General Motors, Mitsubishi and Hitachi, and a number of foreign projects have settled in the area.
The area has formed a clustered industrial effect with five manufacturing parks featuring electronic information, precision machinery, medicine, new material and equipment manufacturing. It improved its commercial and urban function with the Nengda business district. It has also established some professional units to attract investment and serve entrepreneurs to start businesses.
NETDA also cooperated with the Taiwan association of small and medium enterprises to develop a demonstration park for Taiwan enterprises on the Chinese mainland.
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