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Outbound Investment of Nantong in the First Half of 2019 Ranks Second in Jiangsu
updated on:2019-08-08 08:03

Nantong has been promoting the high-quality development of outbound investment and cooperation based on the Belt and Road Initiative. From January to June, Nantong invested in 42 new overseas projects, with contractual investment of USD 9.446 billion, up 57.13% year-on-year, ranking second in Jiangsu. The turnover of overseas contracting and labor reached USD 850 million, up 1.7%.

In the first half of this year, Nantong made investment in 19 countries (regions) in manufacturing, construction and commercial service industries based on capacity cooperation. There were 10 projects with an investment of more than USD 10 million. China Tianying Inc. invested USD 210 million in Vietnam to set up an incineration power plant project with daily processing capacity of 4,000 tons of domestic waste. The Mlily Company added an investment of USD 36.77 million to expand the plants and production lines of its Hengkang European company. NT2C Group invested USD 30 million to undertake engineering projects in Cambodia. NT4C Group added an investment of USD 20 million to undertake engineering projects in Malaysia. The ZTT Group added an investment of USD 28.66 million and USD 25.95 million respectively to increase the optical fiber production capacity in India and Indonesia.

In the first half of this year, Nantong invested in 23 new projects in the 10 countries along the Belt and Road, with a contractual investment of USD 700 million, a nearly tenfold increase, accounting for 74% of its total investment. The turnover of engineering contracting in 22 countries along the Belt and Road reached USD 330 million, up 82.9%, accounting for 47.2% of the total turnover.

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