A view of a laboratory at a foreign-invested pharmaceutical company in Suzhou High-tech Zone. (CFP Photo)
Jiangsu has implemented a series of measures to stabilize foreign investment and foster a market-oriented and world-class business environment underpinned by a sound legal framework, attracting high-quality foreign investment projects including new plants and joint ventures that contribute to the digital transformation and green growth of the manufacturing sector.
In Wuxi, the plant of WAMGROUP will soon launch an upgrade for its intelligent transformation. The company has reinvested its earnings again in Jiangsu, reflecting its confidence of the development in the province.
In terms of the production capacity among WAMGROUP's subsidiaries worldwide, the Wuxi plant stands out for maintaining an average annual growth rate of 20% in tax payment over the past three years. The plant's ploughshare mixer is a flagship product with a domestic market share of over 90%. This year, WAMGROUP decided to invest an additional $30 million to build a new plant.
Jiangsu has become a favored investment place for multinational companies due to its wide range of manufacturing sectors, strong upstream-downstream synergy, and competitive advantages in the market. The province has recognized 366 regional headquarters and functional institutions by multinational companies, with an average revenue of about 2.67 billion yuan.
Jiangsu boasts Linde Group's largest investment in China, totaling over 7 billion yuan. In addition, Linde has made investment across the hydrogen energy industry chain by leveraging its technology, equipment, market experience and professional service.
BSH Home Appliances has a history of 26 years since its establishment in Nanjing in 1997, and the company opened its China headquarters in Nanjing's Gulou District in May 2021, achieving a 17% year-on-year revenue growth in the Chinese market that year.
Currently, Jiangsu is considering new policies to encourage the establishment of foreign-invested R&D centers and revising policies for companies setting up regional headquarters in the province. Jiangsu also continues to hold government-enterprise roundtables and other direct exchanges to boost communication and provide foreign enterprises with a better environment.
