Lin-gang Special Area achieves remarkable growth
Since its establishment four years ago, the gross regional product of the Lin-gang Special Area in Shanghai grew at an average annual rate of 21.2 percent, surpassing Shanghai's average growth rate of approximately 4 percent, local officials said at the 2023 Lingang Global Investment and Cooperation Conference on July 10.
Data released at the conference also revealed that the average annual growth rate of the area's gross industrial output for enterprises with annual income exceeding 20 million yuan ($2.76 million) was 37.8 percent, while the average annual growth rate of fixed-asset investment was 39.9 percent.
The average annual growth rate of foreign investment was 58.7 percent, while the average annual growth rate of the total trade volume of the Yangshan Free Trade Zone was 22.1 percent.
Speaking at the conference focused on opening-up and development, Chen Jinshan, Party secretary of Lin-gang, highlighted the robust growth the area has undergone. The data indicates that Lin-gang's industrial development has huge potential and that the area has been effectively expanding its reach to potential investors and partners.
Agreements for 14 key projects covering fields like cutting-edge industries, service trade, finance, and urban functions were signed during the conference.
Tang Hao, deputy director of the Lin-gang Special Area Administration, described Lin-gang's distinctive qualities with four words: outgoing, progressive, energetic, and noteworthy.
Since its inception, the Lin-gang Special Area has prioritized engagement with the global community, viewing reform as a significant advantage and opening up as its primary mission. Tang explained that the abbreviation of the four English letters OPEN symbolizes Lin-gang's commitment to openness and showcases its progress.
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