Shenyang city, which is famous for manufacturing of shoes, is pulling more and more foreign investment.
Recently, eight Korean units invested in shoe industry area of Shenyang city seeing immense growth prospects in the region.
Out of eight companies, Taizhen Shoe Tree Manufacturer invested US $100 million.
Established in 2003, shoe industry area has so far attracted foreign investment worth $900 million from 118 big shoe manufacturers and over 1700 units related to this business.
According to estimates, last year's production value is expected to reach RMB4 billion.
Shenyang city, also known as Northern Shoe city, has attracted foreign as well as domestic manufacturers to a greater extent because of cheap raw material and labour resources available in the region.
In order to further reduce purchasing cost of raw materials, local Government is setting up a new shoe materials supply area with an investment of RMB240 million. New project under taken will be completed during this year.
Fibre2fashion.com News Desk-China
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