The city of Wenzhou – located in East China's Zhejiang province – is currently seeing a surge in big projects coming in, starting up construction and expanding their scale there, a boom which has reportedly injected new vigor into local economic development.
The latest statistics show that 251 manufacturing projects each valued at more than 100 million yuan ($15.48 million) were signed so far this year and 129 projects have started construction.
It's understood that attracting large-scale, quality and high-level projects has become a top priority for the Wenzhou municipal government.
The China Eye Valley – also known as the Wenzhou Eye Vision Innovation Hub – is one such achievement. It has reportedly attracted 109 registered technology-based enterprises to settle in its Central Incubation Park, which only opened a year ago.
Last month the Wenzhou Science and Technology Innovation Conference was held, spawning a bevy of new projects.
Agreements were signed on the establishment of 10 innovative platforms – including the Zhejiang Carbon Neutral Technology Innovation Research Institute – and contracts were inked for the China Gene Medicine Valley Biological Products R&D and Production Base and 13 other major projects.
While the arrival of the new projects that are pumping energy into development, many local companies are contributing in another way – expanding production or transforming with technological upgrades.
The Huafon Group, one of the world's leading manufacturers of polyurethane products, commissioned production equipment for its poly butylene adipate-co-terephthalate, or PBAT plant in Ruian, a county-level city administered by Wenzhou.
The plant will produce an estimated 30,000 tons of PBAT annually, according to a company spokesman.
