East China’s Jiangsu province has stepped up the construction of major investment projects and ensured their smooth progress through every possible effort so as to fulfill goals for social and economic development set forth in this year’s government work report.
With a total investment of 1 billion yuan, the first phase of Riying Electronics' 5G intelligent auto parts manufacturing project will be completed and put into production within this year.
Upon its operation, this project will be built into a first-class professional auto parts manufacturing base with an annual production of 250 thousand sets of driving assistance systems for connected vehicles, 2 million sets of automobile intelligent washing systems, and 5 million sets of automobile sensor systems.
A 3C series module and high-performance materials project started construction in Dongtai with a total investment of 5 billion yuan.
The project produces a new generation of soft magnetic materials in a bid to become the world's largest R&D and manufacturing base. Upon its operation in 2023, the project will report annual invoice sales of 12 billion yuan and profits and taxes of 1 billion yuan.
