Jinhua Development Zone (JDZ) has recently made impressive progress in its new energy vehicle industry, emphasizing the growth of its unique sectors for shared prosperity. Thanks to a robust industry chain and supply network, this sector has thrived. Companies like Wanliyang (WLY) and Jinfei have seamlessly integrated into the global automotive supply chain, expanding strategically from producing car parts to manufacturing entire vehicles. Leapmotor, a homegrown company in Jinhua New Energy Vehicle Town, is a standout example. They’ve played a vital role in the supply chain, achieving remarkable results. Last year, they delivered 111,200 vehicles, a year-on-year increase of 154%. Leapmotor’s success made them the first local company to exceed 10 billion RMB in revenue at the city level, with a total industrial output value surpassing 20 bn RMB. In the first seven months of this year, they delivered 58,800 vehicles, reaching a cumulative total of over 220,000 vehicles since their inception. This accomplishment places them among the top five newcomers in the Chinese automotive industry to deliver over 200,000 vehicles.

During the first half of this year, the development zone signed agreements for 20 projects with a total planned investment of 19.545 bn RMB. Among these, 11 projects focus on the new energy vehicle and parts industries, with a planned investment of 5.25 bn RMB. The city successfully attracted and implemented 4 projects in the new energy vehicle and component industry. This progress is driving the new energy and high-end equipment manufacturing sector towards the goal of producing 600,000 vehicles annually, with an output value of 100 bn RMB.

One major investment project in the JDZ last year was the Konka (Jinhua) New Energy Battery Industry Base Project, with a total investment of 10 bn RMB. It took just 15 days from the approval of project components to obtaining the necessary land approval for construction.

The development of characteristic industries reflects the level of progress in the economy and society and represents people’s desire for a better life. The JDZ is continuously improving the surroundings of New Energy Vehicle Town by introducing various businesses like internet cafes, Chinese restaurants, milk tea shops, and offices. This initiative aims to create a lively hub in New Energy Vehicle Town that includes dining, hotels, shopping, leisure, and entertainment, providing a comfortable living environment for nearby employees.

To meet the cultural needs of town residents and industrial workers, the “Zhejiang Culture Enjoyment” project at the provincial level for 2022 has introduced the Reading Hall to the New Energy Vehicle Town’s wellbeing center. The Reading Hall spans over 400 square meters, offering more than 50 reading seats and a collection of over 3,000 books, catering to various reading preferences and needs of different community groups.

Panlong Village, once a traditional farming village just a street away from Jinhua New Energy Vehicle Town, has undergone a natural transformation into a residential area as the characteristic industries in the town rapidly grew. In just two years, this village, which originally had just over 1,200 residents, has now welcomed almost 20,000 tenants. Most of these tenants are industrial workers from the new energy vehicle town. The ratio of village residents to newcomers is roughly 1:18. Moreover, over 95% of the standard rooms and suites, along with more than 80% of the storefronts in the village, have already been leased.

A community-based night market with a traditional feel is a key part of the nighttime economy. The Tangzhai Night Market has created almost 500 jobs, and 80% of the workers are new residents of Jinhua. This helps the city in its goal to keep residents. This not only enhances the competitiveness and appeal of Jinhua New Energy Vehicle Town but also plays a crucial role in supporting the development of a demonstration zone for shared prosperity. (Text by Xu Xinyun, photo by Hu Xiaofei)