Chengmai county attracts $9.4b investments at trade fair

The 2024 China Chengmai International Economic and Trade Fair in Chengmai county, Hainan province, resulted in the signing of 105 intention projects, with an intended investment amount reaching 66.59 billion yuan ($9.4 billion).

The event, themed "Spotlight Global Outreach, Invest in Chengmai", was held on Sunday. The fair gathered over 1,000 companies and 1,500 attendees.

During the opening ceremony, the Chengmai county government inked five international projects with countries and regions including Cambodia and the United Arab Emirates. The projects spanned various sectors, such as energy trade connectivity, oil service guarantees, exports of new energy vehicles and digital trade cooperation.

Sheng Yongjun, Party secretary of Chengmai, said at the opening ceremony that the city is an international platform connecting China with the world and is poised at a new starting point. Faced with new development opportunities, Chengmai prioritizes "fully promoting the economy". By constructing various platforms, identifying the right track and creating business models, Chengmai aims to maximize the effective integration of various high-quality resources and attract the attention of global investors.

To establish a new hub for industrial cooperation between Zhejiang province and Hainan province, Chengmai is leveraging the key area of the Hainan Free Trade Port - the Hainan Laocheng Science and Technology New City - to plan the "Zhejiang-Hainan Cooperation Industrial Park" and attract the first batch of companies to settle in.

On Sunday afternoon, the Hainan-Zhejiang Cooperation Forum inaugurated the park, deepening cooperation and exchanges between enterprises in Zhejiang and Hainan, and creating more opportunities for Zhejiang enterprises to expand overseas through the free trade port. The park now hosts 635 Zhejiang companies, including 631 in the Hainan Ecological Software Park, with 34 Zhejiang investment projects under negotiation.