Top Biz News

Industrial growth tops city's agenda

By Ji Lin
Updated: 2006-09-29 15:22

Jilin City in Northeast China's Jilin Province has made great efforts in recent years to attract investment to re-energize the city's once-prosperous industrial base.

According to the city's development strategy, industrial development is the city's most important task.

From January to August, the city has attracted investment of 32.2 billion yuan (US$4 billion), a year-on-year growth of 60.9 per cent.

Foreign investment reached US$167 million, increasing by 31.38 per cent over the same period last year.

The city has been active in participating in investment promotion events at home and abroad.

In August, the city organized a large delegation to go to the Yangtze River Delta (including Shanghai, Southern Jiangsu Province and Northern Zhejiang Province) to invite investment.

The delegation signed 17 projects with a total investment of 13.92 billion yuan (US$1.72 billion).

At the 2nd Northeast Asia Investment and Trade Exposition held earlier this month in Changchun, capital of Jilin Province, Jilin City signed 37 projects and attracted an investment of 17.24 billion yuan (US$2.13 billion).

The projects cover the sectors of chemical industry, automobiles, the metallurgical industry, textiles, agricultural product processing, high-tech, commercial distribution and infrastructure.

The Aluminum Company of America, one of the world's top 500 enterprises, signed an agreement of intent with Jilin Aluminium Company at the exposition to purchase the latter's shares.

City development

To promote industrial development, the city has established four industrial parks, including Jiangbei, Hadawan, Jiangnan and Jiuzhan Industrial Parks.