The city of Kunshan responded to the adverse market environment in the first half of this year by streamlining administration, delegating powers, and improving regulation and services so as to expedite the conversion of old and new kinetic energies and promote the growth of the foreign trade sector.
Qiu Ti Technology Group, a leading PRC-based fingerprint recognition module and camera module manufacturer with a strong focus on Chinese branded smart phone and tablet market, is the world's leading intelligent vision system company. Since the start of this year, the company has increased an additional investment of 600 million US dollars in Kunshan for the development and application of automotive camera modules and ultra-small mobile phone camera modules with more than 34 million pixels.
With the additional investment, the company has become the largest foreign-funded firm in Kunshan’s new and hi-tech zone. Its annual output value is expected to total 12 billion yuan this year.
Liu Tongquan, deputy CEO of operation, Qiu Ti Technology Group
In response to the uncertainties in international trade, Kunshan has unveiled new policies and measures to promote high-quality economic development, encouraging Fortune 500 companies to invest in Kunshan, expanding investment channels, strengthening and optimizing foreign investment carriers, and perfecting the structure of foreign trade development.
Zhu Pingnan, head of the general office, Kunshan Customs
In the first half of this year, Kunshan registered 128 newly-registered foreign-funded projects with 1.03 billion US dollars of new investment. 8 investment projects register more than 100 million US dollars of capital.
The city’s actually utilized foreign capital totaled 640 million US dollars, ranking first in the country.
In the first six months of this year, Kunshan totaled 264 billion yuan of imports and exports volume, up 2.6% year on year. its exports totaled 179.4 billion yuan, a gain of 6.9% from a year ago.
(Source:ourjiangsu.com)
