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Zhongshan Guochangrong Electronics Co Ltd (Guochangrong) struck a deal with Zhongshan Cuiheng Urban Renewal Co Ltd on a capital increase and production expansion project, which is also the first capital increase and production expansion projects with supplied land in Cuiheng New District.

With a total investment of 600 million yuan, a fixed assets investment of 300 million yuan and an annual average tax revenue of 40 million yuan, the project is expected to start construction within the year and to go into operation in 2025. Its estimated annual output value will reach 600 million yuan.

Notably, the project is located in the Shenzhen-Zhongshan industrial agglomeration area under planning and construction in Cuiheng New District. The Shenzhen-Zhongshan industrial agglomeration area will be developed into an industrial park dominated by next-generation electronic information and become a demonstration area for the industrial integrative development of Shenzhen and Zhongshan.