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Jiaxing builds China-Italy intl cooperation demonstration zone

chinadaily.com.cn| Updated: March 11, 2021 L M S

Construction on the China-Italy (Jiaxing) International Cooperation Demonstration Zone began in Jiaxing, East China's Zhejiang province on March 10, local media reported.

The demonstration zone, operated by Maylink Holding Group Ltd, focuses on the aerospace, biomedicine, automobile, auto parts, smart manufacturing, and textile industries.

It will meet the demand of companies in Jiaxing and other cities in China in upgrading, as well as international cooperation, with a focus on introducing leading companies and hidden champions in segments of Europe's industries.

The demonstration zone is expected to include an industrial park, a base for  applying scientific and technological innovations to production, a university, a culture and art exhibition center, a new retail commercial complex, a car themed park, as well as a purchasing center.

On the same day, the first 14 cooperation projects between the two countries were signed via video conference, involving new energy vehicles, trade and business service, education, culture, as well as tourism.

Jiaxing and Italy boast relatively close economic and trade cooperation ties. As of the end of 2020, Italian companies had established 108 companies in the city, with a total contractual investment of $452 million, while Jiaxing companies had invested $39.59 million in 17 projects in the country.