On the afternoon of June 30, the COFCO Wamwei Pinghu Project officially signed and settled in the Pinghu Economic-Technological Development Zone (Pinghu ETDZ). This project is invested by COFCO Group, a Fortune Global 500 company. With a registered capital of 50 million RMB and a land area of 36.8 mu, the establishment of this project will further strengthen Pinghu ETDZ’s biotech (food) industry.

COFCO Group is a globally leading international agri-food enterprise. Wamwei is its subsidiary brand specializing in meat products, primarily producing mid-to-high-end chilled meat items, including sausages, bacon, ham, beef, and poultry. The brand holds a leading position in the premium fresh pork and processed meat sector. The signing of the COFCO Wamwei Pinghu Project follows COFCO’s earlier investment in Jiaxing COFCO Barrel Manufacturing Co., Ltd., marking another strategic move into Pinghu ETDZ.

Speaking about the decision to settle in Pinghu ETDZ, Li Lei, Party Committee Member and Chief Accountant of COFCO Jiakang, stated that they recognized the development zone’s advantageous location. Situated at the heart of the Yangtze River Delta, the zone offers significant convenience for serving clients, along with a strong foundation in the biotech (food) industry. As Li noted, as early as 2010, Pinghu ETDZ began planning for a biotech (food) industrial park, nurturing fertile ground for the development of the health food industry. After years of cultivation, the zone has attracted a number of Fortune Global 500 companies and industry hidden champions, such as BNX (Zhejiang) Food Co., Ltd., Cargill Food Technology (Pinghu) Co., Ltd., and Zhejiang Nissin Foods Co., Ltd. At present, Pinghu ETDZ is home to 33 biotech (food) enterprises above designated size, achieving an output value of 8.24 billion RMB last year.

Once the COFCO Wamwei Pinghu Project reaches full production, it will have an annual output capacity of 14,000 tons of meat products, with an estimated annual output value exceeding 500 million RMB. Its establishment marks Pinghu ETDZ’s continued innovation in the meat processing sector and injects strong momentum into enhancing the core competitiveness of its biotech (food) industry. As one of Pinghu ETDZ’s key “3+X” industries, the biotech (food) sector is a major focus of cultivation. In the first five months of this year, the industry achieved an output value of 2.157 billion RMB, maintaining positive growth.