Yuhuan, a county-level city in Taizhou, reaches a cooperation agreement with Jinko Solar Co Ltd on Sept 28. [Photo/WeChat account: tzfb001]

Jinko Solar Co Ltd is planning to build a solar cell module factory with an annual output value of 70 billion yuan ($10.77 billion) in Yuhuan, a county-level city in Taizhou, according to the cooperation agreement reached by the company and the Yuhuan government on Sept 28.

Jinko Solar is a world-leading company focusing on the R&D, production and sales of integrated photovoltaic products and integrated clean energy solutions.

At present, the company has more than 30,000 employees and 12 production bases worldwide.

In 2021, it produced solar products with a combined capacity of 25.24 GW, generating 40.57 billion yuan in revenue. That same year, the company's total assets were valued at 72.87 billion yuan.

It ranked 152nd on the 2021 list of top 500 Chinese private companies and came in 78th on the top 500 Chinese manufacturing enterprises list.

Yuhuan's attractiveness for investment has been growing steadily. In the first half of this year, 10 projects, each with an aggregate investment value of 3.59 billion yuan, were introduced to the city.