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Cuiheng Urban Renewal Co Ltd concluded an agreement on May 31, according to which a high-end electromagnetic component R&D and manufacturing base will be built in Cuiheng New District.

The project will an automated manufacturing base with an annual output of over 500kk pcs of electromagnetic components to meet industry needs for vehicles, communication devices, manufacturing and consumer electronics.

The base will supply high-end inductive components to world-renowned companies such as Dell and Lenovo. With an estimated investment of 1 billion yuan, the project will generate an annual output value of over 1.2 billion yuan at full capacity.

Cuiheng Urban Renewal Co Ltd plans to build multiple high-standard city-industry parks in Nanlang, including 4 planned ones that cover a total land area of 267 mu.