New auto industrial park opens in Jiangsu

NANJING -- A new vehicle components manufacturing park opened in East China's Jiangsu province on Monday, the result of a partnership between the Danyang city government and the Japan External Trade Organization.

In total, $600 million has been invested in the Japanese Automobile Parts Industrial Park, which covers 100 hectares, according to the Danyang municipal government.

Thirty companies have decided to establish production bases at the site, which incorporates areas for metal processing, electronics, resin and rubber as well as fiber manufacturing.

Some 10 percent of auto parts for the Chinese market come from Danyang. About 800 car and auto parts firms operate in the city, with a sales revenue of 20 billion yuan ($3.16 billion) in 2011.

The JETRO is a government-related organization that promotes mutual trade and investment between Japan and the rest of the world.