32 companies to head to Shanwei

SHENZHEN: A number of companies from Shenzhen, Hong Kong and Taiwan will relocate to Shanwei, an undeveloped city in the east of Guangdong province, an official said yesterday.

The move is part of the government's policy on industrial restructuring to boost the economies of the underdeveloped eastern, western and northern parts of the country.

Thirty-two companies, a majority of them from Shenzhen, Hong Kong and Taiwan, yesterday signed letters of intent and investment agreements with the Shanwei industrial park, where they will be relocated, Zheng Yanxiong, acting mayor of Shanwei, said.