NANCHANG, CHINA – Jiangxi Hangde's 5 billion yuan ($697.7 million) copper foil project officially began operation this week in the Xiaolan Economic Development Zone.

The first phase of the project covers an area of 200 acres with an investment of 2 billion yuan ($279 million) and a planned production capacity of 20,000 tons. The main products are 4.5 micron to 8 micron ultra-thin lithium battery copper foil and 12 micron to 70 micron high-performance printed circuit board copper foil, which are used in new energy vehicles, aluminum batteries, and PCD standard printed circuit boards.

The company estimates that the project will achieve an annual output value of around 6 billion yuan ($837 million) and an annual tax payment of about 300 million yuan ($41.9 million) after reaching full production, providing more than 800 job opportunities.