Datong city's government signs an agreement with Shanghai Zhongneng Enterprise Development Group and Shanxi Jinghutong Industrial Co on June 11 to jointly construct a bio-based new materials industrial park in the city. Shanghai Zhongneng Enterprise Development Group is a large investment holding group integrating manufacturing, technology, finance, new materials, real estate, hotels and commercial operation business. [Photo/Datong Daily]

Datong city's government recently signed an agreement with Shanghai Zhongneng Enterprise Development Group and Shanxi Jinghutong Industrial Co to jointly construct a bio-based new materials industrial park in the city. 

In recent years, Datong has implemented industrial revitalization projects involving new materials, new equipment and big data sectors, and the economic transformation has shown a strong development trend. 

The newly signed project has an investment of more than 50 billion yuan ($7.77 billion) and plans to introduce bio-based new materials manufacturing, intelligent manufacturing and special steel-based new materials manufacturing industries. It will also build a world-class bio-chemical new materials industry demonstration base. After completion, its annual output value will exceed 75 billion yuan and its annual tax contributions will be more than 5 billion yuan. 

Zhang Jifu, Party secretary of Datong, said the industrial park will play an important role in promoting strategic emerging industries and future industrial clusters in Datong and even Shanxi, building a modern industrial system and advancing high-quality development. 

He said he hopes that Datong's government and Shanghai Zhongneng Enterprise Development Group will take the signing as an opportunity to carry out more pragmatic and in-depth strategic cooperation in more fields and attain win-win results. 

Yu Jianming, chairman of Shanghai Zhongneng Enterprise Development Group, said that the group will build the industrial park into an industry benchmark and contribute to the high-quality and high-speed development of Datong.