Wanzhou District in Chongqing has signed an agreement with the Shandong Ruyi Group to construct a Textile City at an investment of 15 billion Yuan.

Of this, 10 billion Yuan will be invested in the construction of industrial and support projects while 5 billion Yuan will be used in construction of commercial housing projects.

The city named "Western Textile City" will be built on 3,500 mu of land and the whole investment will be made by Shandong Ruyi Group.

The Textile City is located in the National Economic and Technical Development Zone of Wanzhou.

After completion, the city will be able achieve yearly sales of 50 billion Yuan, pay industrial taxes amounting to about one billion Yuan, and create 100,000 jobs.