Progress has been made since 2025 in promoting talent housing projects by Xinghua State-owned Assets Investment and Holding Co through the revitalization of idle resources and unified planning and construction. The company's first landmark project, "Lanbao Yaju", located in Chenbao town, is now nearing completion.
Chenbao town is home to more than 100 machinery manufacturing companies, including over 50 that are above the designated size. Together, they have attracted more than 200 core technical personnel and corporate executives from other regions.
The project is located on a 30-mu (about 2 hectare) idle plot west of the town government. It has received a total investment of 158 million yuan ($23.1 million) and has a construction area of 32,000 square meters, providing 228 residential units.
"In about half a month, the technical specialists we've recruited from other regions will be able to move into suites," said Gu Chengyi, head of Jiangsu Haiyu Machinery Co.
"In the past, the company had to spend a lot each year on rent and transportation subsidies to retain senior executives. Now that the talent apartments are being built in the town center, costs have dropped, and those professionals are able to settle there more easily," said Gu.