A worker tests machine at joint venture in Wuxi. [Photo/VCG]
A total of 219 foreign invested enterprises were incorporated in Wuxi during the first half of 2017, investing $8.240 billion into the city, with a year-on-year increase of nearly five times.
As of the end of June, multiple core indexes of the investment from foreign enterprises showed a substantial growth in Wuxi city – the total investment by newly established foreign enterprises increased by 471.83%, the registered capital increased by 292.12% and the paid-in amount by foreign enterprises increased by 696.97%.
In the 120 newly-established foreign invested corporations, 33 enterprises invested a total amount of $10 million or above respectively, and seven enterprises invested a total amount of $100 million or more. As of June 25, the number of foreign invested enterprises in Wuxi amounted to 6,392, with the total investment of $111.714 billion.
Manufacturing, scientific research and technological services have become the most popular industries in Wuxi, attracting foreign investment, including 22 newly-added manufacturing enterprises, with the total investment of $3.811 billion, a year-on-year growth of seven times. The figure shows the trend of enhancement in both quality and quantity in the foreign manufacturing sector.
