Contracts have been signed between Jiangsu and 35 SOEs
Contracts on 45 investment projects have been signed between Jiangsu province and 35 State-owned enterprises (SOEs) in Beijing last month, which are 222 billion yuan totally.
The most competitive State-owned enterprises, such as Sinopec and State Grid, will supply investments to the 45 projects, focusing on infrastructure construction, manufacturing and service sectors.
14 of the 45 projects have an investment of more than 5 billion yuan which include a wind power project by China Guodian Corp in Nantong and a container terminal by COSCO Group in Suzhou. China Communication Construction Co Ltd in Lianyungang on coastal development has supplied investment to the biggest single project which contains 20 billion yuan.
The provincial government will help to start these projects timely. What is more, they will supply special policy support to some projects, said Luo Zhijun, governor of the east coastal province.
310 State-owned enterprises in Jiangsu created 1.1 trillion yuan business revenue in 2008, accounting for one sixth of the province’s total, which have made a great contribution to regional GDP of Jiangsu, exceeding 3 trillion yuan, a 12.5 percent increase year-on-year.
According to Li Rongrong, minister of the State Assets Supervision and Administration Commission, Jiangsu has advantages in talents, market and economic foundation, and SOEs have competitiveness, management and technologies. Cooperation between the two will definitely benefit both sides.
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