BEIJING, Nov. 10 (Xinhua) -- The Nanjing Jiangbei New Area in east China's Jiangsu Province on Monday officially launched investment promotion event for key districts and development zones in Shanghai, which is expected to last for a month.
Photo taken on November 9 shows the site of the launching ceremony of the investment promotion event in Shanghai.
Located at the intersection of the eastern coast of the Chinese mainland and the Yangtze River economic belt, Nanjing Jiangbei New Area potentially owns a considerable consumer market in its surrounding 25 cities, according to Chen Chanmei, deputy director of the management committee of Nanjing Jiangbei New Area.
The superior geographical location provides a unique transportation infrastructure development advantage for Jiangbei New area. At present, 11 significant transport passway across the Yangtze River have been built here, and 28 passways are expected to be buit in the future, linking the new area with the cities on the south bank of the Yangtze River.
As the 13th national new area in China, also the only state-level new area in Jiangsu Province, Jiangbei New Area has been promoting reform and innovation since its establishment. The accumulation of innovative resources has become a top priority in creating a sound business environment in the area.
The new area has taken the lead in launching a massive 5G network construction in Jiangsu Province and has now achieved 5G network coverage of more than 10 square kilometers.
Chen added that as a gathering place for innovation resources, Jiangbei New Area has a cumulative record of 84 new research and development (R & D) institutions and more than 1,000 high-tech enterprises, such as the Cambridge University Nanjing Center of Technology and Innovation.
The flourishing chip industry in the new area has attracted more than 400 integrated circuit enterprises to settle here, and the area is expected to see more than 50 billion yuan in the chip output value this year.
Meanwhile, the development of financial industry in this area is also performing strong. More than 300 funds, including 50 billion yuan of advanced manufacturing national funds, have been introduced into the new area, driving a capital scale of 500 billion for the district.
The Jiangbei New Area has achieved a surge in its regional gross domestic product (GDP) from 143.5 billion yuan when established in 2014 to current nearly 300 billion yuan. In the first three quarters this year, the new area's GDP still maintained a growth rate of 8.4 percent amid the COVID-19 epidemic.
(Contributed by Shen Yangzi, edited by Jiang Feifan with Xinhua Silk Road, 346129473@qq.cm)
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