A total of 82 foreign-funded projects have been set up in Wuxi so far this year, mostly focusing on strategic emerging industries such as energy conservation and environmental protection, biomedicine, new energy vehicles and new energy, according to Wuxi Municipal Bureau of Commerce.
In recent years, Wuxi has maintained rapid growth in the development of strategic emerging industries, building a strong industrial base and an excellent environment for investment.
In the first quarter of 2020, strategic emerging industries accounted for 91.7 percent of the city's actual use of foreign capital, with the new energy industry growing by 312.2 percent year-on-year.
BridgeLux Inc, a leading US developer and manufacturer of solid-state lighting technologies, will build its intelligent LED chip research and development (R&D) and manufacturing center in Wuxi. In addition, Japanese dairy firm Yakult will invest $300 million in expanding its factory in Wuxi, making it the company's largest plant in the world.
Among the 82 newly-signed foreign-funded projects, 29 are additional investment projects, five more than the same period last year.
As China's prevention and control of the novel coronavirus has achieved important initial results, many foreign enterprises are transferring parts of their overseas production capacity to Wuxi, such as SK Hynix and Jabil Group.
