On September 13, the government of Xinyu, Jiangsu Province, China inked nine contracts worth a total of RMB 4.8 billion ($710 million) at a local investment conference. All contracts concern investments in the special steel industry in Xinyu.
Furthermore, the Xinyu government plans to achieve an annual industrial value-added output of RMB 20 billion ($2.96 billion) by 2012.