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Zhenshi Holding Group Co Ltd. [Photo/jiaxingren.com]

Zhenshi Holding Group Co Ltd, a large multinational private enterprise involved in various industrial sectors, announced that it would invest over 10 billion yuan ($1.37 billion) to launch a green and high-end stainless-steel project.

This year, Zhenshi Group's investment volume, investment projects and investment scope have all reached historic highs. The company's investment in project construction is expected to increase by 161 percent year-on-year throughout the year, a 34-year high.

Zhenshi Group, located in Tongxiang, a county-level city of Jiaxing, was founded in 1969 and restructured in 1989. It is a large multinational private enterprise involved in special steel materials, nickel-iron manufacturing, mineral resources, wind power base materials and composite new materials. 

It has been selected as one of China's top 500 enterprises, Fortune China's top 500 enterprises and China's top 500 manufacturing enterprises and has set its sights on both domestic and foreign markets.

It has set up more than 50 holding and share-holding subsidiaries in China and Indonesia, Egypt, Turkiye, the United States, Spain and other countries. It has also invested in nickel mines and nickel-iron smelters in Indonesia to create a closed loop supply chain and ensure the security of the industrial chain.