NTN Corporation signed agreements at Shanghai’s foreign investment signing ceremony recently, agreeing to invest more in Songjiang District. Altogether 60 projects, totaling US$7.3 billion, were closed during the event.
NTN, a world famous manufacturer for precise instruments, plans to put in an additional US$132 million in capital for further development in the suburban district.
Having first arrived in Songjiang in 2005, the company now runs procurement, sales and investment business in the district.
By the end of 2019, the Songjiang Economic and Technological Development Zone saw US$ 340 million in foreign capital, up 27 percent from the year before.
Measures to optimize the commercial environment are keeping up, including a service center for foreigners working in China unveiled in December, which is set to facilitate luring of more foreign talent by simplifying many approval procedures.