East China's Jiangsu Province continued to be the most popular destination for foreign investment in 2020, according to a teleconference of the province’s Department of Commerce on January 12.

The coastal province reported an actual use of foreign investment of $25.73 billion from January to November, up 9.6 percent year on year, and this accounted for 16.5 percent of the country’s total.

Authorities in Jiangsu have been improving the business environment in a bid to attract more quality investment. The province’s 23 measures to stabilize foreign investment as well as campaigns to improve services were recognized by the Ministry of Commerce and encouraged to be rolled out nationwide.

Data shows Jiangsu has made progress in improving the quality and structure of foreign investment. During the 11 months in last year, the use of foreign investment in Jiangsu’s manufacturing industry accounted for over 30 percent in the country. Major projects that had an investment threshold of $30 million attracted 58.8 percent of total foreign investment in the province. Jiangsu saw increase of foreign investment in 1,227 projects, which amounted to $7.24 billion, and 36 new regional headquarters and functional offices of multinational companies.

Contact us at english@jschina.com.cn