China's food mogul Joyvio Group picks Jinshan for its expansion plans

As part of its expansion plans, China's food mogul Joyvio Group will construct a super food facility in Shanghai.

It will occupy 3.3 hectares in Jinshan District, about the size of five soccer fields, and produce "3R" food, which stands for ready-to-eat, ready-to-heat, and ready-to-cook.

The A-share listed Joyvio is a modern agriculture subsidiary of Legend Holdings, a Beijing-based information and technology conglomerate.

The mega facility is just the beginning of the company's ambitious commercial footprint in Jinshan, where it has signed partnerships worth 12 billion yuan (US$1.8 billion) to build its headquarters, a smart storage platform, and an R&D center for plant-based meat alternatives, among other things.

Joyvio is one of nine projects worth a total of 15.5 billion yuan that were signed in Jinshan on Wednesday, demonstrating that four vital industries – new materials, life and health, information technology, and intelligent equipment – are key to Jinshan's growth.

Meanwhile, construction on seven major projects involving investments of 9 billion yuan is currently underway.