The Huichang Industrial Park, the fourth industrial park renovation project in South District that started construction this year, broke ground on August 8.

The project is in the Shuchong Industrial Park, with a land area of 50 mu and 5 buildings before renovation. It can now generate an annual output value of 1 million yuan and annual tax revenues of 150,000 yuan.

The investor will spend 180 million yuan to build the park, which will bring in enterprises in such areas as high-end equipment manufacturing, new materials, new energy, medical devices, electronic components and next-generation information technology.

After renovation, the project is expected to generate an annual output value of 300 million yuan and annual tax revenues of 9.998 million yuan, which are nearly 300 times and 66 times larger than before respectively.