Recently, Guizhou Provincial Government and Jiangsu Hengli Group signed memorandum of cooperation in Guiyang city of Guizhou. According to the memorandum, Hengli Group will invest RMB26 billion in three years in Guizhou after project implementation conditions are met. The project, following its complete start-up is expected to bring in RMB30 billion operating income and RMB3 billion profit tax.
Hengli Group's proposed investment includes the construction of its regional headquarter in Guiyang, the establishment of trade, logistics and settlement bases in Guizhou and even in southwest China, the establishment of Hengli Textile New Material Industrial Park in Chishui, Zunyi City, the build of Hengli Group's high-end fiber new materials and high-end fabric production base in Guizhou Province and the conduct of feasibility studies on investment in coal chemical projects in Guizhou.
Guizhou will establish a project promotion working group to provide in accordance with laws and regulations service guarantee and support in project construction, project land use, project subsidies, talent introduction, taxation policies, etc.