Jiangsu Province, one of China’s economic powerhouses, saw its actual use of foreign direct investment in 2021 hit $28.85 billion, which accounted for 16.6% of China's total, according to the province’s Department of Commerce at a press conference on January 25.
Among other main development indicators, Jiangsu’s foreign trade in goods and total retail sales of consumer goods stood at 5.2 trillion yuan and 4.3 trillion yuan respectively, both ranking second in the country.
Jiangsu’s foreign trade surged to 5.21 trillion yuan in 2021, up 17.1% year on year, and the number accounted for 13.3% of China's total imports and exports value during the period. The exports and imports in Jiangsu increased by 18.6% and 14.8% year on year.
Data also showed the executed value of service outsourcing sighed by Jiangsu enterprises reached $26.48 billion in the first 11 months in 2021, a year-on-year increase of 9.2%, the highest in China for 13 consecutive years
Xuzhou City was approved as a national pilot city of service outsourcing and Suzhou Industrial Park was recognized as a national cultural export base. Jiangsu has 13 platforms for trade in service at the national level, ranking first in the country.
The actualized FDI in the manufacturing sector amounted to $9.09 billion, 31.5% of the province’s total. This was about 27% of actual use of FDI in manufacturing sector nationwide. The service industry saw the actualized FDI of $18.21 billion, a year-on-year growth of 35.1%.
Hong Kong contributed the largest FDI to Jiangsu in 2021, about 75.4% of the provincial total or $21.75 billion, up 33.4% year on year. Jiangsu’s actual use of FDI from South Korea and Japan reached $2.14 billion, account for 26.9% of total investment from the two countries in China. The use of FDI from Singapore, the United States and Germany increased by 52.8%, 23.3% and 5.6% year-on-year respectively. The Belt and Road countries made actual FDI of $1.47 billion into the province, up 46.1%.
Jiangsu also had a total of 331 foreign capital headquarters and functional institutions, of which 50 are Fortune 500 investors.
Over the year, Jiangsu added 726 foreign investment projects worth $6.68 billion, up 3.9% and 15.3% year-on-year respectively. By the end of 2021, Jiangsu had 8,490 investment projects overseas, to which the province’s investors agreed to invest $89.5 billion.
