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Yancheng to expand by tapping Shanghai

YANCHENG in Jiangsu Province plans to enhance cooperation with Shanghai and build itself into a base for advanced manufacturing, new energy, modern agriculture and tourism.

It also hopes that its abundant supply of workers at lower costs and its goal of building transport links will attract more overseas investment from Japan, South Korea, Hong Kong and Taiwan.

"We hope to take advantage of the opportunities from the integration of the cities in the Yangtze River Delta region, with Shanghai as a locomotive," said Li Qiang, mayor of Yancheng, yesterday in Shanghai. "It can help to accelerate our growth as our resources are highly complementary to those of Shanghai."

The State Council, China's Cabinet, endorsed Yancheng to become a strategic city for developing coastal areas in the province on June 10, which offered unprecedented opportunities for the city to accelerate progress, said Li.

Rich in natural resources, Yancheng plans to increase vehicle, textile, machinery and chemical production. It will also improve infrastructure construction to generate more power from wind and plans to build a wetland national park to boost tourism to the province.

Yancheng attracted US$1 billion in foreign investment last year. Li is confident that foreign investors will find the city, a two-hour drive from Shanghai, even more attractive as it has convenient air links to South Korea, Hong Kong and Taiwan while a new route will be launched soon to Japan and South Asia.

Yancheng's gross domestic product grew to 160 billion yuan (US$23.4 billion) last year, nearly tripling the amount in 2000.


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