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The Jiaxing Economic and Technological Development Zone in Zhejiang province. [Photo/jiaxingren.com]

More global industry leaders have established or expanded their presence in Jiaxing, East China's Zhejiang province, expressing growing confidence in the city's economic prospects.

The Jiaxing Economic and Technological Development Zone (JXEDZ), which plays a pioneering role in Jiaxing's opening-up, is currently home to over 730 foreign-funded enterprises from 42 countries and regions across the world.

At the forefront of this trend is Zoppas Industries, an Italian supplier of heating elements and systems. The group's general manager, Federico Zoppas, visited Jiaxing on Nov 23 to finalize the agreement for the third-phase heating element project in Jiaxing. With this additional investment, Zoppas has now invested a total of $86 million in the development zone.

Zoppas also announced it will build a high-end mold production base for the group's subsidiary, SIPA. SIPA is the world's second-largest PET mold manufacturer and its clients include Coca-Cola, Pepsi, and Danone.

"In the course of our projects' development, JXEDZ has provided much care and support. This is why we have repeatedly increased our investment," said the general manager.

Zoppas' China headquarters will relocate to Jiaxing in July next year, projecting an annual output value exceeding 1 billion yuan ($140.42 million) and creating over 1,000 job opportunities.

Zoppas entered the Chinese market in 2000 and built its first plant in Hangzhou. However, as the demand for localized production increased, the existing facilities became inadequate. Explaining the decision to choose Jiaxing, Cui Jingtan, general manager of Zoppas Asia-Pacific, highlighted three reasons: its strategic location and market advantages, proximity to suppliers and customers, which means lower relocation costs, and the comprehensive plan provided by JXEDZ, which ensures a smooth transfer without significant disruptions to orders.

Jiaxing Hormel Foods Co Ltd. [Photo/jiaxingren.com]

In a similar move, when world leading food company Hormel was selecting a location for its new factory, JXEDZ undertook extensive research and cost analysis and provided a solution to various challenges, such as steam supply and staff training. The expertise of JXEDZ further led to the establishment of Hormel's regional headquarters and Asia-Pacific research and development center in Jiaxing.