CHONGQING (CQNEWS) -- Wanzhou District in Chongqing signed an agreement with Shandong Ruyi Group on April 21, 2011 to construct the "western textile city" with investment of 15 billion yuan, of which 10 billion yuan will be invested in the construction of industrial and supporting projects while 5 billion yuan will be invested in the construction of commercial housing projects.
Covering land of 3,500 mu, the "western textile city" is wholly invested by Shandong Ruyi Group and located in the National Economic and Technical Development Zone of Wanzhou. After its completion, it will attract the textile industry in the 1,000 km area nearby, realize annual sales revenue of 50 billion yuan, achieve industrial taxes of about 1 billion yuan, and provide 100,000 jobs. (Translated by Tan Hongxia, Fathom Language Limited)
