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Qianwan New District enters fast development track

chinadaily.com.cn| Updated:  December 31, 2020 L M S

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A workshop of Ningbo Yiyu Auto Parts Co Ltd in the Sino-Italy Ecological Park in Ningbo, East China's Zhejiang province. [Photo/cnnb.com.cn]

Qianwan New District in Ningbo has been developing rapidly since its establishment in July of last year.

The district's gross domestic product (GDP) in the district is expected to exceed 110 billion yuan ($16.92 billion) this year, while its investment in fixed assets and fiscal revenue are expected to surpass 32 billion yuan and 20 billion, respectively.

Qianwan New District covers an area of 604 square kilometers and is divided into three parts: the Hangzhou Bay Industrial Accumulative Zone (353.2 sq km), part of Yuyao city (106.6 sq km), and part of Cixi city (144.2 sq km).

By 2035, Ningbo aims to build the district into a world-leading manufacturing base and a demonstration zone for the integrated development of the Yangtze River Delta region.

Hangzhou Bay New Area, the core of Qianwan New District, has recently emerged as a magnet for investment.

This year, a total of 70 industrial projects, including the headquarters of Geely Auto Group, a subsidiary of Zhejiang Geely Holding Group, have been established in the area, with a combined investment value of 39.6 billion, up 99.08 percent year-on-year.

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