Lianyungang inks deals worth billions of dollars

2020-04-30 16:06:00

Lianyungang City of Jiangsu Province held a signing ceremony for 12 industrial projects with a total investment of 27.5 billion yuan ($3.9 billion) on April 28, with the other party in Shanghai via video connections.

In addition to the contracted projects centered on the Yangtze River Delta region, the two sides have been negotiating 139 others worth 118.4 billion yuan, with each project valued at more than 100 million yuan.

Lianyungang, situated at the northernmost point of the Yangtze River Delta, is at the intersection of the Belt and Road initiative and the Yangtze River Economic Belt. It boasts unique geographical advantages and abundant land resources, becoming an important part of the Yangtze River Economic Belt and a vital gateway on the New Asia-Europe Continental Bridge.

In recent years, the flow of talents, logistics, capital, and information between Lianyungang and other parts of the Yangtze River Delta has accelerated so the city is attracting more and more projects. Lianyungang has the ambitious goal of connecting the Belt and Road with the golden waterway of the Yangtze River Economic Belt to allow more resources to gather for mutual benefit.

As of the end of March, Lianyungang had 429 projects under negotiation with the total investment of 580.4 billion yuan, an increase of 59 projects and 250.2 billion yuan than the same period in last year, respectively.