Lin-gang Special Area signs 20 billion yuan in projects
An aerial view of the Lin-gang Special Area of the China Shanghai Pilot Free Trade Zone [Photo/sipaphoto]
The Lin-gang Special Area of the China Shanghai Pilot Free Trade Zone signed a number of construction projects with five companies during a ceremony held on Jan 13.
The projects received a combined total of nearly 20 billion yuan ($2.91 billion) in investment.
Zhu Zhisong, executive director of the management committee of the Lin-gang Special Area, attended the signing ceremony.
The new projects will improve services related to food, accommodation, shopping, entertainment, culture, and sports for residents of Lin-gang.
Shanghai Zhong Yi Stadium Management Co Ltd will build a complex for equestrian and water sports, Shanghai Haichang Ocean Park will build an entertainment complex, Shanghai Red Star Macalline Real Estate Co Ltd will build shopping parks and commercial streets, Shanghai Oriental-Pearl Industrial Development Co Ltd will build a film base, and Shenzhen OCT South China Investment Co will build a large complex incorporating cultural and tourism elements.
According to Ji Xiaohong, chief of the office of commerce, culture and tourism of the management committee of the Lin-gang Special Area, the sites of the construction projects have already been decided and construction will start this year.
An official of the management committee of Lin-gang said that the projects are meant to improve the infrastructure of Lin-gang.
He also expressed hope that more companies would invest in the special area.