NovelSense signed a Letter of Intent (LoI) with the regional government in Shaoxing. The cooperation partners agreed to explore further cooperation opportunities. Therefore both parties will engage in further discussions on possible business relations between NovelSense and regional companies active in the Manufacturing industry.
Shaoxing is located roughly two hours east of Shanghai in the east Chinese province Zhejiang. The province is home to roughly 60 million people. Due to its location close to the business hub Shanghai, the city of Shaoxing and the region of Zhejiang represent interesting opportunities for German companies.