Raft of projects established to support high-quality development in Pingtan

One company that has benefited from the initiative is innovative semiconductor technology company CR Technology (Pingtan) Co. It signed an investment agreement with Pingtan's economic development bureau, planning to build integrated circuit testing and packaging factories in the county with investment at 100 million yuan.

A businessman from Taiwan started up the business in a Pingtan entrepreneurship park in 2015. Turnover of the company topped 20 million yuan in 2017, up from 9.8 million yuan the previous year.

Executives said that based on results from the plant, the company can provide more high-end products and services for customers.

In recent years, Pingtan has greatly increased the efficiency of its administration and approval process and created a good business environment, local officials said.

The region's administrative services center has fine-tuned its ability to attract industry projects.

Officials said Pingtan had promoted its industrial upgrading through major projects and by targeting emerging industries, in the process building up a high-quality modern industrial system. At the Pingtan innovation forum, the county signed off on 47 projects with a total investment worth 19.66 billion yuan.

The rapid development of the financial industry is another sector thriving in Pingtan. To the east of Pingtan is the Taiwan Strait, and it is the closest place in the Chinese mainland to the province of Taiwan.

The county has issued an implementation plan for building a cross-Straits finance area and promoting development of the financial industry, including funding through stock market listings.

A company from Taiwan signed a memorandum of understanding with Pingtan for a futures finance license and financial training projects on Sept 28.

An executive from the company said the main reason it chose Pingtan was that the region aimed to develop the cross-Straits finance area and it boasted innovative and preferential policies.