East China’s Jiangsu province has made unremitting efforts to promote the growth of foreign direct investment since the beginning of this year, as is evidenced by the fact that the province reported 23.4 billion USD of FDI from January to October, up 22.8% year on year.
According to the statistics of the Ministry of Commerce, from January to October, Jiangsu reported US$23.4 billion of foreign direct investment, a year-on-year increase of 22.8% and up 29.3% from 2019. Standing for a two-year average rate of 13.7%, the figures accounted for 16.5% of the country's total, and continued to rank first in the country.
At the same time, Jiangsu has continued to optimize foreign investment development structures. From January to October, the province’s manufacturing sector reported a year-on-year growth of 2.1% in foreign direct investment, and the service industry reported a year-on-year growth of 34.6% in foreign direct investment.
The growth rate indicated that the province’s foreign investment in the manufacturing industry remained stable, and the growth rate of foreign investment in the service industry was relatively obvious.
Foreign direct investment from Hong Kong, Singapore, and Germany and some other important sources of investment increased by 30.8%, 66.4%, and 9.8% year-on-year. The direct investment from Belt and Road countries increased by 58% year-on-year.
Large projects and new projects have become important engines for the development of foreign capital.
From January to October, the number of newly established foreign-invested enterprises increased by 27.5% year-on-year.
The number of companies with a total investment of more than 100 million US dollars increased by 9.8% year-on-year.
The number of large projects with direct investment of more than US$30 million increased by 38.6% year-on-year and 41.4% year-on-year.
