In the first half year, Maoming signed up 120 major new investment projects with a total agreed investment of 43.8 billion yuan ($6.1 billion).

Meanwhile, the actual investment completed there during the period was 1.06 billion yuan.

A major thoroughfare in Maoming is upgraded to help improve the local investment environment. [Photo/WeChat account: maofabu]

Among these were 73 manufacturing projects, accounting for 60.83 percent of the total number of projects, with a total agreed investment of 38.74 billion yuan. That amount accounted for 88.5 percent of the total value of the agreed investment.

Maoming is becoming a powerful magnet for new investment through landmark events such as the fourth China Petroleum and Chemical Green Development Summit and the third Maoming Business Conference.

Overall, the prefecture-level city is strengthening its investment promotions in the green petrochemicals industry, advanced materials and mineral resources, modern light, advanced equipment manufacturing and metal processing, automobile manufacturing, as well as digital and information industry.

For example, it brought in the Sunwoda Automotive Electronics plant in its Dianbai district with an investment of 4 billion yuan, focusing on the development of emerging industries, such as new energy vehicle electronics intelligent manufacturing. The first-phase plant has now been completed and delivered to the company for interior decorations, with the complex aiming to start production before September.

Maoming has also introduced measures to implement the international Regional Comprehensive Economic Partnership (RCEP) trade policy, which will pave the way for hefty reductions in tariffs for member countries like China and boost international commerce and trade.