Jiangsu’s trade volume to the U.S. hit 45.3 billion USD in the first half of 2017, according to Ma Minglong, director general of Department of Commerce of Jiangsu.
The volume also broke a new record by taking 1/6 of the national trade volume to the U.S. in H1 2017. The percentage has always been 1/7 in the past several years.
Ma made the remarks on an economic exchange and trade fair that was held on Sep. 25th in Nanjing. The fair was expected to bring Jiangsu commerce departments and enterprises closer to the U.S. representative offices in China.
Representatives from the U.S. Consulate General in Shanghai, the U.S.-China Business Council and the 15 states of the U.S. exchanged their ideas with the businesses and enterprises in Jiangsu.
Meanwhile, Jiangsu enterprises have invested 1.5 billion USD to the U.S. in the first half of 2017, up by 44.2% year on year. The investment to the U.S. takes 30% to the province’s total foreign investment in H1 2017.
Some U.S. firms have also increased investment to Jiangsu Province. Johnson & Johnson, for example, has put 180 million USD in Suzhou to produce leading medical facilities. The U.S. has invested in 11, 600 projects in Jiangsu with actual investment of 17.3 billion USD, taking 1/5 of the U.S. investment in China.
The U.S. is Jiangsu’s second largest destination for investment after Hongkong. Jiangsu has invested in 1,000 projects in the U.S. with investment of 6.7 billion USD, taking 1/12 of China’s investment to the U.S.
Jiangsu Province is also the sister states/provinces with the State of California and the State of New York. The U.S. is Jiangsu’s largest trade partner, the sixth largest source of foreign capital and the second largest destination of foreign investment.
