Suzhou attracts record foreign capital in Q1

2020-05-08 16:09:00

Suzhou City reported record highs in both the actual use of foreign fund and growth rate in the first quarter following a good start in January.

The city’s paid-in foreign investment reached $ 4.23 billion, a year-on-year increase of 163.3 percent. During the period, there were 236 newly established foreign investment projects, up 9.3 percent year-on-year, and newly registered foreign investment increased by 68.3 percent to $5.49 billion.

Among the new projects, 51 were above the investment threshold of 50 million yuan, and registered foreign investment hit $4.5 billion, accounting for 81.8 percent of the total.

The city now hosted new large-scale projects from the world’s top multinational companies, including German autos supplier Brose Group, Mitsubishi Heavy Industries Air-conditioners and Starbucks.

Data also showed optimized investment structure in the city. Among 65 new projects, 80 percent belonged to the new and emerging industries. Suzhou has made great strides across the broad spectrum in the advanced manufacturing including intelligent robots, IC, precision CNC machine, smart measurement instrument and, new energy equipment.