East China’s Jiangsu province topped the country in terms of the foreign direct investment in the period between January and May, the latest statistics show.
From January to May, Jiangsu reported 17.68 billion US dollars of FDI, a year-on-year increase of 31.5%, accounting for 20.2% of the country's total, and continued to rank first in the country, according to statistics released by the Ministry of Commerce.
FDI in manufacturing totaled US$6.48 billion, a year-on-year increase of 56.2%, accounting for 36.7% of the province's total.
In the Lishui Economic Development Zone in Nanjing, the 2-billion-yuan Siemens CNC (Nanjing) Co., Ltd recently put into operation a new factory, making it the first native digital factory of Siemens in the world.
The plant will produce electronics and motor manufacturing products, making it Siemens' largest R&D and manufacturing center outside Germany for motion control.
Zhou Yurong, General Manager of Siemens CNC (Nanjing) Co., Ltd.
"We follow the design and operation concept of 'Industry 4.0',pioneering the application of digital twin technology industrial Internet of Things,artificial intelligence technology, 5G technology to integrate production processes optimize production processes,efficiently develop production lines,and provide real-time and reliable data support for actual production,and realize digital manufacturing and management through continuous improvement."said Zhou Yurong, General Manager of Siemens CNC (Nanjing) Co., Ltd.
Statistics show that from January to May, direct foreign investment in Jiangsu's high-tech industry totaled US$5.12 billion, a year-on-year increase of 43.1%.
High-tech manufacturing and high-tech services reported annual growth of 58.7% and 27.6%. The growth rate of high-tech industries such as aerospace, pharmaceutical manufacturing, and electronic communications all exceeded 50%.
Thanks to Jiangsu's continuous optimization of its investment structure, a number of foreign-funded enterprises have made additional investments in Jiangsu through capital increase.
In July, Norma Group, a German-funded enterprise, will start the construction of its third factory in Changzhou, which is its sixth-time increase of investment in China. The new project will develop and produce core components for smart electric vehicles, hydrogen trucks and new energy vehicles.
Su Jiefeng, CEO of German-funded Norma Group
"Our being neighbors with big tech companies in Wujin give us a competitive advantage.We think our location is great logistics and ecosystem are great."said Su Jiefeng, CEO of German-funded Norma Group
Jiangsu will continue to give full play to the role of key foreign-funded projects to help foreign-funded enterprises overcome the adversities of the epidemic, carry out regular business activities, and make steady and healthy development in Jiangsu.
