East China’s Jiangsu province topped the nation in the amount of foreign direct investment in the first two months of this year. JSBC has the story.
Foreign businesses have continued to strengthen their confidence in investing in Jiangsu due to the continuous improvement of epidemic prevention and control, the continuation of preferential policies for stable foreign investment, and the stability of Jiangsu's industrial chain supply chain.
According to statistics from the Ministry of Commerce, Jiangsu's actual use of foreign capital from January to February reached 5.71 billion US dollars, up 25% year-on-year, accounting for 21.9% of the country's total, and continuing to rank first in the country.
Major investment projects have become a strong engine for foreign investment growth. Kunshan Economic Development Zone has recorded 9 foreign investment projects since the start of this year, with newly registered foreign investment of US$343 million, up 120% year-on-year.
Jiangyin signed 10 foreign investment projects including Israel's 3D video chip and Sino-French Smart Fresh Port, bringing a total investment of US$1.365 billion.
From January to February, Jiangsu reported 509 new foreign-funded enterprises, a year-on-year increase of 58.6%. 86 investment projects reported individual investment of over US$30 million, a year-on-year increase of 34.4%.
Additional investment in 208 foreign-funded projects increased by 33.3% year-on-year with actual use of 270 million US dollars, up 237.5% year on year.
FDI from Hong Kong increased by 47.2% year-on-year，continuing to be the largest source of investment from outside the Chinese mainland. FDI from Singapore increased by 72.9% year-on-year, outpacing the other foreign countries.
In the meantime, Jiangsu continued to optimize its foreign investment structure. The actual use of foreign capital in Jiangsu's manufacturing industry accounted for 33.7% of the country's total, an increase of 4.1% from the end of last year, further consolidating Jiangsu's status as a manufacturing powerhouse.
The province’s actual use of foreign investment in the service industry increased by 62.6% year-on-year with its proportion in the economic sector increasing by 15.6%.
