Twenty-four industrial projects were signed on the sidelines of the seventh China International Import Expo (CIIE) during an investment promotion event for Shanghai's Jiading district on Nov 6, bringing in a total of around 6.38 billion yuan ($890.31 million）to the area.
Among the signed initiatives, German auto supplier ZF's new project focuses on next-generation automotive steering technology, with an additional investment of about 1.2 billion yuan, according to Renee Wang, vice president of ZF Asia Pacific.
"Having been deeply rooted in Jiading for over 30 years, we have received tremendous support and guidance from all levels of government, which strengthens our confidence to expand our business scope and scale in Jiading," said Wang.
Jiading is striving to advance its automotive, integrated circuits, and biopharmaceutical industries. To support industry growth, it has introduced a series of supportive measures for enterprises. During the event, Jiading's new investment promotion empowerment system was unveiled, emphasizing integrating investment promotion services and providing comprehensive evaluation and support for businesses.
The Jiading District Foreign Investment Competitiveness Report released at the event revealed that over 90 percent of foreign companies view Jiading's investment environment favorably. A quarter of respondents even reported superior services compared to their home countries.
In recent years, Jiading has been actively expanding its overseas investment network. During this year's CIIE, Jiading unveiled two new offices in the United Kingdom and Singapore, which follows the establishment of overseas investment promotion offices in Tokyo, Frankfurt, and Paris. These expansive measures are enhancing the district's appeal to international investors.
Jiading unveils two new investment promotion offices in the United Kingdom and Singapore, respectively, at the seventh CIIE. [Photo/jiading.gov.cn]