CHANGZHOU, China, Jan. 14, 2020 /PRNewswire/ -- AAC Technologies broke ground on a US$600 million optical camera module production facility in Changzhou National Hi-Tech District. Upon completion, the facility is expected to generate sales of more than 10 billion yuan per year. AAC Technologies, founded in Shenzhen in 1993, is a world-renowned precision manufacturing leader, with proprietary core technologies across the micro acoustics, precision optics, electromagnetic transmission and radio frequency antenna sectors. In terms of market share, the firm leads worldwide in all four sectors. In 2019, AAC Technologies invested in its second project in Changzhou Comprehensive Bonded Zone -- Ruitai Optics (Changzhou), with the goal of having the new operation serve as one of its optical camera module R&D and manufacturing facilities. The new facility will mainly produce optical modules, optical lens, molds, voice coil motors, sensors and related chips, and, upon completion, form a complete optical module industry chain within Changzhou National Hi-Tech District.
On the same day, construction of the facilities for 31 key projects in Changzhou National Hi-Tech District, including the AAC Technologies facility, started, backed by an aggregate investment of 16.59 billion yuan, of which 6.06 billion yuan is scheduled to be capitalized in 2020. Among the projects, 12 have been designated by the government as strategic emerging industry projects, 14 as advanced manufacturing projects and 5 as modern service projects.
In 2019, Changzhou National Hi-Tech District brought in 121 high-quality projects, including two projects in which the investment exceeds 10 billion yuan or US$1 billion, another two with investment above 5 billion yuan or US$500 million and one project valued at over 3 billion yuan or US$300 million, as well as 17 large foreign-invested projects with registered capital of more than US$30 million, exceeding its annual target and setting new records in both the number and the speed at which the projects are advancing towards completion. The district achieved its annual target of US$760 million in paid-in foreign investment two months ahead of schedule, the fastest in history. During 2019, eight projects were categorized by the Jiangsu province's government authorities as provincial key projects, accounting for one thirtieth of the province's total and nearly a quarter of the city's total, in both cases, a higher share of key projects than in any previous year.
About Changzhou National Hi-Tech District (CND)
Changzhou National Hi-Tech District (CND) is located in the heart of the Yangtze River Delta. There are more than 1,600 foreign-invested companies in CND. Recently, CND is accelerating the development pace and intensifying the efforts on construction of an industrial base, making 2 pillar businesses: equipment manufacturing (precision machinery) and new materials bigger and stronger. The emerging industries consist of new generation of information technology, biomedical, new energy vehicle, photovoltaic and aviation. Related Links: www.cznd.gov.cn
SOURCE Changzhou National Hi-Tech District