Actual Utilized Foreign Capital in WND Continues to Rank the First in Jiangsu Province in the 5th Year
Release time:2021-02-22 Browse:

It was learned from Wuxi National Hi-Tech District (WND for short) on February 20 that as a result of the COVID-19 pandemic and the severe and complex international economic environment, WND earnestly ensured stability on six fronts (employment, finance, foreign trade, inbound investment, domestic investment and market expectations) and guaranteed safety in six areas (jobs, daily living needs, food and energy, industrial and supply chains, the interests of market players, and the smooth functioning of primary level government) by strengthening cooperation among various departments. By large-scale actual utilization of foreign capital and stable foreign capital industrial chain and supply chain, WND has had more companies with large scale and improved structure. According to the data, in 2020, the actual utilized foreign capital in WND reached 1.282 billion US dollars, continuing to rank the first among all districts, county-level cities and development zones in the whole province in the 5th year. In addition, 116 new foreign-invested enterprises were set up in WND, ranking the first among all urban areas in the whole province.


What’s more, the number of major foreign-funded projects was in rapid growth. In 2020, 17 major projects with registered capital of 30 million US dollars were newly approved in WND, 4 more than the scheduled. At the same time, 3 projects invested by Fortune Global 500 companies were newly introduced. The amount of foreign-invested projects with actual capital in 2020 occupied 72.9% of the total amount of foreign capital in WND. LG New Energy, SK Hynix Semiconductor, Bosch Automotive Diesel, Dizal Pharma and other projects with foreign capital of over 100 million US dollars greatly stabilized the key industrial chains in the whole district. In addition, Wuxi’s number of foreign-invested headquarters is in rapid growth. There were 2 provincial-level regional headquarters and functional organizations of transnational companies newly approved in WND. So far, WND has had 17 headquarters, accounting for 42.5% in the whole city.


According to an official from the Bureau of Commerce of WND, this year, WND will further develop and expand investment channels and project information networks by ways such as selecting "investment partners" from world-renowned professional consulting institutions for investment promotion, actively exploring and implementing the employment system of foreign investment representatives and strengthening domestic and foreign cooperation in investment promotion. WND will accelerate building foreign affairs offices in key countries such as Japan, Republic of Korea and America and key regions in China and set up three foreign affairs offices in Japan, Republic of Korea and Europe by the end of 2021. Within 3 years, WND will set up another three foreign affairs offices in Europe and America, so as to further facilitate investment promotion. At the same time, WND will build a business environment abiding by international conventions and furthest develop the all-weather investment system, so as to strive to achieve the actual utilized foreign capital of 1.33 billion US dollars and continue to rank the first in Jiangsu Province in the 6th year.


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