Lin-gang Special Area steadfast it its opening-up
The Lin-gang Special Area – located in East China's Shanghai city – will continue to extend its opening-up and make every effort to promote the rapid recovery of business activities and project investments that have been greatly affected by the novel coronavirus epidemic.
That's in the wake of China releasing a circular on further optimizing its COVID-19 response.
Since the epidemic, the Shanghai Lingang Economic Development (Group) Co Ltd, or Lingang Group has done everything possible to keep in touch with overseas merchants, through such things as video conferences and visits to the local subsidiaries of international companies.
By doing so, it has secured many customers and joint projects, including the German multinational ProMinent.
As early as in August 2018, ProMinent China headquarters company moved to Pujiang International Science and Technology City, a subsidiary of the Lingang Group.
In September of 2021, Pujiang International Science and Technology City learned that ProMinent planned to increase its investments in China, build a global smart factory and an Asia-Pacific headquarters and manage existing enterprises in China and certain Asia-Pacific branches.
The Lingang Group followed up on this opportunity in a timely manner, strengthened communications with ProMinent's German headquarters through its China headquarters and worked together to form a plan for ProMinent to settle in the Lin-gang Special Area.
As a result, ProMinent signed a contract, with a total planned investment of about 50 million euros ($53.11 million) in February, at a signing ceremony for foreign-funded projects in Shanghai.
While bringing in foreign investment is crucial to the area's development, the Lingang Group also plans to encourage more of its enterprises to expand outwards out after the optimization of epidemic prevention and controls, in a bid to stabilize and maximize its industry supply chains.
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