The administrative committee of the Jinyi new district – located in Jinhua city, in East China's Zhejiang province – recently signed a framework agreement with Jinhua-based household appliance manufacturer Zhejiang Ruisheng Electric Appliance Co Ltd to build a major manufacturing plant.
The signing ceremony took place during the 2021 China Zhejiang International Digital Economy Summit, held in East China's Shanghai city, with plans to build a fresh-air ventilation system factory in the district.
Total investment of the project is $77 million and the plant will be on a site covering 35.77 mu (2.4 hectares). On completion, projected annual sales will be about 180 million yuan ($28.1 million) and the annual tax revenue will be more than 10 million yuan.
The 2021 China Zhejiang International Digital Economy Summit aimed to build a dialogue and cooperation platform for enterprises in the global digital economy.
More than 10 Jinhua-based companies took part in the summit.
