Rudong Economic Development Zone (RDEDZ) in Nantong, Jiangsu province secured its first significant foreign investment for 2024 by partnering with Shenzhen Shunhai Manufacturing Group Co Ltd to build a manufacturing base for intelligent terminal motherboards.

The base is expected to generate annual sales of 1 billion yuan ($139.98 million) and will become the company's largest manufacturing facility in the country.

Opting for RDEDZ as the company's investment hub was a strategic move, said Yang Jianhui, chairman of Shunhai Group, adding that Rudong's well-integrated supply chain and its commitment to an efficient business environment were key influencers.

According to Yang, the zone promptly allocated a 12,000-square-meter factory space after preliminary evaluations, providing the project with a head start.

At present, Shunhai Group has secured all necessary business licenses for construction and aims to commence operations by May.