Jiangsu’s agricultural FDI totals $283 million in H1

2021-09-14 17:06:00

Foreign direct investment (FDI) into the agricultural industry in Jiangsu Province reacched $283 million in the first half of the year, a year-on-year growth of 9.7%, according to the province’s Department of Agriculture and Rural Affairs.

The coastal province has made efforts to overcome the impacts of the pandemic and other challenges to ensure the stable FDI growth. Since 2010, the province has introduced 396 agricultural projects with a committed foreign investment totaling $13.1 billion.

Among them, Dingkang Food Technology Co Ltd, the first foreign-invested agricultural enterprise in Xinghua City, involved an investment of $27 million and achieved the sales of 390 million yuan in 2020. The company has also fueled the growth of the city's fruit and vegetable dehydration sectors, making the local spring onion a popular export to other countries.

Xinghua is now home to 86 enterprises specialized in vegetable dehydration, accounting for 60% of the province’s volume of vegetables export. The companies achieved the sales of nearly 5 billion yuan in 2020, an increase of 5% year-on-year. Xinghua has become Asia's largest vegetable dehydration and export hub as well as distribution center of finished products.

Suzhou Taishin Food Co Ltd, a Sino-Japanese joint venture, is mainly engaged in farming of various aquatic products such as Corbicula fluminea, a species of freshwater clam. With the local support, the company has continuously upgraded its production line, increased its production capacity and quality. Taishin has been designated as one of the exemplary agricultural farms for export in the province.

It also applied for the certification by the Aquaculture Stewardship Council (ASC), the world’s leading certification scheme for farmed seafood, in 2019 and was honored as a designated product by the Japanese Olympic Committee in 2020. While increasing its export capacity, the company has also helped over 500 local fishing families to improve sustainability performance and increase income.