The amount of foreign investment in Jiangsu province surged 6.5% year on year from January to October, latest statistics show.
The steady growth of the use of foreign capital and the continuous optimization of the structure has provided important support for the development of the province's open economy.
Statistics show that from January to October, the province registered 2262 newly-established foreign-invested projects, an increase of 2.9% year-on-year. The amount of new contractual foreign investment totaled 48.33 billion US dollars, an increase of 19.3%. The actual use of foreign capital added up to 22.11 billion US dollars, up 6.5% year on year.
245 enterprises were newly launched or had their capitals increased by more than 100 million US dollars, up 23.7% year on year.
Wuxi Hynix Semiconductor, Nantong Alibaba Information Port, Jiangsu Lotte Mart, and Suzhou Gaochuang Electronics all increased their capital by over US$500 million. Large projects have grown rapidly.
At the same time, the province has also continuously optimized its structure of foreign capital use. Among them, the actual use of foreign investment in the service industry increased by 26% year-on-year, accounting for half of the actual use of foreign capital in the province and edging up significantly from the same period last year.
The ten strategic emerging industries spearheaded by advanced manufacturing industries recorded 10.38 billion US dollars of foreign investment, accounting for 46.9% of the province's actual use of foreign capital with the proportion further improved.
With the deepening promotion of the Belt and Road initiative, Jiangsu registered 29.8% year-on-year increase of investment from the countries along the Belt and Road from January to October. Foreign investment from developed economies has also increased significantly.
Industry analysts say as an open economy, Jiangsu needs to seize opportunities and accelerate the transformation of economic structure into high-quality development.
(Source: ourjiangsu.com)
