The economy of Tongxiang, a city of 1.2 million people, is highly dependent on exports of manufactured goods such as textiles. Photo: Shutterstock
Trade war-hit town near Shanghai see positives from US-China tensions as it seeks two-way investment flows
- Official from Tongxiang in Zhejiang province hope that its manufacturers will set up factories in the United States but keep their headquarters in China
- As of the end of last year, 14 companies from Tongxiang had set up shop in the US including a US$350 million fibreglass plant in Columbia, South Carolina
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China economy
The economy of Tongxiang, a city of 1.2 million people, is highly dependent on exports of manufactured goods such as textiles. Photo: Shutterstock