The actual utilization of foreign capital in Wuxi, East China's Jiangsu province, surged 34.05 percent year-on-year in the first half of this year to $2.88 billion.
The signing ceremony for a molding equipment research, development, and manufacturing base of Singapore-based Patec Precision Industry Co took place on July 21 in the Wuxi National Hi-tech District.
The GDP of Wuxi in East China's Jiangsu province totaled 710.567 billion yuan ($99.12 billion) in the first half of this year.
China will step up macroeconomic policy support in the second half of the year to further boost the nation's economic recovery.
US multinational company Littelfuse, which is a leader in circuit protection, announced that it will invest $70 million in the Wuxi National Hi-tech District from 2023 to 2027 at a completion ceremony of new land development on July 17.
The government will further utilize the roundtable meeting mechanism involving foreign companies and business associations to enhance support for their operations in China.
Wuxi in East China's Jiangsu province has been exerting efforts to raise its international profile.
China issued a guideline on Wednesday for promoting the development of the private sector, signaling the latest push for supporting and reinvigorating a key sector in order to revive economic recovery amid downward pressures.
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