A fund to offer financial support and promote high-quality economic development was set up in Tongzhou district, Nantong.

The fund was established by the district’s financial department and Nantong Xinhui Holding Group, according to a contract signed at the signing ceremony on Dec 19.

The fund will also aim to attract social capitals for investment in projects in the fields of strategic emerging industries.

Key areas which will benefit from the fund include new energy, biological medicine, new materials, intelligent equipment manufacturing, and information technology.

Cheng Hong, executive deputy district head of Tongzhou, expressed her hopes for both sides to take this opportunity to promote the high-quality economic development of Tongzhou district. “Currently, the industries are undergoing transformation and upgrading, and the number of projects that require investment is increasing,” she said.