East China’s Jiangsu province registered 2391 newly-launched foreign investment projects in the first three quarters of this year. the amount of contractual and direct foreign capital reached 42.5 billion USD and 20.47 billion USD respectively.
At the First China-Korea Trade and Investment Expo, 18 South Korea-invested projects landed in the China-ROK Industrial Park in Yancheng. These projects will bring a total investment of 20 billion yuan and nearly 800 million USD.
Thousands of Korean-owned companies have invested more than $7 billion in Yancheng alone. In the first three quarters of the year, Jiangsu added 164 Korean-funded projects, an increase of 38.5% year-on-year, becoming a new highland with Korean capital, and is the province with the largest investment from Korea and the largest import and export volume with Korea.
The actual use of foreign capital in Jiangsu's manufacturing industry exceeded US$10 billion, accounting for half of the actual use of foreign capital in Jiangsu this year. The actual use of foreign capital in strategic emerging industries was US$12.56 billion, a year-on-year increase of 32.7%.
The actual use of foreign investment in the service industry was US$9.04 billion, accounting for 44.2% of the actual foreign investment in Jiangsu. The digital creative industry, biotechnology and new pharmaceutical industries, high-end software and information services industry reported actual use of foreign capital at a high level of 80%-130% year on year.
Investment from the EU continues to grow, with a 32.8% increase from Germany. Among other major sources of investment, the actual use of foreign investment from the United Kingdom, South Korea, and Japan increased by a high range of 30% to 136%.