Qingdao Tonghe Industrial Park: an ideal place for foreign investment
Updated: 2010-06-10
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Tonghe Industrial park, with over 20 new projects under construction, and a total investment of 1.2 billion yuan, has become an ideal place for overseas investors.
"Investors from around the world come here to visit everyday. The impact of the financial crisis here is small. In the first five months of this year, five new projects have been put into operation and nine ones are about to be built,” said Wang Fujun, director of the Tonghe Industrial Park Managment Committee.
According to Wang, Tonghe Industrial Park actively undertakes domestic and international industrial transfers, and has been fostered by the industrial system with local specialties including auto parts, electronic components, food processing, and machinery casting. At present, merchants from over 20 countries and regions have invested in projects here, of which more than 100 projects are sponsored by Korean enterprises.
Based on national policies to expand domestic demand and stimulate the domestic market, a number of large enterprises have begun a massive capital increase, which brings new vitality to the development of the park.
Daedong Syetem Co Ltd, a key supplier to the Korea Hyundai Motor Corp, Yueda Kia, and the first automative enterprise to arrive in Tonghe, has been expanding its scale in recent years. This year, it has invested $8 million in sunroof wire project with the world-class skills, which will be put into operation in July this year.
Donghwa Casting Co Ltd, which has the world's most automated production line of alloy hubs, will increase by $35 million in investment capital to expand its production capacity. The total investment of this enterprise then will reach $80 million, becoming Asia’s largest, and the world’s second largest hub manufacturer.



