The Lin-gang Special Area – located in East China's Shanghai – hosted a conference to promote foreign investment on March 14.

A signing ceremony takes place in Lin-gang for 11 key projects on March 14. [Photo/WeChat ID: shlgguanweihui]

Eleven key projects in cutting-edge industries like integrated circuits and new energy – including those being operated by semiconductors and electronics equipment maker ASMPT Ltd and automotive tech company Lier – signed contracts worth over 5 billion yuan ($694.8 million).

It's smiles all round as the Foreign Investment Service Center is unveiled in the Lin-gang Special Area on March 14. [Photo/WeChat ID: shlgguanweihui]

The new Foreign Investment Service Center in Lin-gang Special Area and the Shanghai Foreign Investment Association Lin-gang Office were unveiled at the conference. They'll provide comprehensive services to foreign-funded enterprises in Lin-gang and help to further boost their confidence in developing in China.

Outstanding foreign-funded enterprises and service institutions for 2023 were also honored at the event.

Chen Jinshan, director of the Lin-gang Special Area Administration, gives a speech at the conference on March 14. [Photo/WeChat ID: shlgguanweihui]

One highlight of the conference was a keynote speech given by Chen Jinshan, director of the Lin-gang Special Area Administration, who emphasized Lin-gang's appeal.

He cited the 45.3 percent average annual foreign investment growth from 2020 to 2023, with the number of newly established foreign-funded enterprises soaring during the period from 1,205 to 3,328.

What's more, last year the number of newly established foreign-funded enterprises in Lin-gang soared by 93 percent year-on-year, accounting for over a 10 percent of the total in Shanghai.

Chen called on more foreign-funded enterprises to choose Lin-gang, invest in Lin-gang and expand their presence in Lin-gang.

Representatives from companies like Ele & Bee and United Overseas Bank expressed their optimism, praising Lin-gang's policy support and innovative environment. They expect Lin-gang's growth to continue apace in the coming years and they encouraged more groups to invest in the area.

The conference also included roundtable discussions on emerging finance, international trade and social development themes.