Advanced manufacturing gains ground in Tonglu

A construction site in Tonglu county, East China's Zhejiang province. [Photo provided to chinadaily.com.cn]

Construction of a 126.75-mu (8.45 hectares) factory funded by Hikvision, a Hangzhou-headquartered video security company, is currently in full swing in Tonglu county, East China's Zhejiang province.

The plant broke ground last September. The 551-million-yuan ($84.77 million) factory will have an annual production capacity of 400,000 units of video security products, generating 4 billion yuan in output value after it is put into operation in June 2023.

Located not far from the Hikvision factory is another important manufacturing project under construction in Tonglu.

This 96-mu facility will be mainly focused on the production of equipment for automated express systems, including extendable conveyor belts and sorting machines, and is scheduled to be put into operation by the end of this year.

The establishment of such advanced manufacturing projects will inject new vitality to the transformation and upgrading of the local manufacturing sector, a local official said.

This year, the local government has set the target of increasing its investment in fixed assets to 4.15 billion yuan, a yearly uptick of over 25 percent.

Currently, Tonglu is home to 53 manufacturing projects each with an investment value of more than 100 million yuan. Ten of these projects are still under construction and each have an investment value of more than 1 billion yuan, official statistics show.