Wuxi completed outbound investment totaling $1.72 billion in the first half of the year, which represented an increase of 202.1% year-on-year and was the highest in Jiangsu Province in the period, according to the city's Department of Commerce on August 6.

In the first half of the year, Wuxi registered 81 outbound investment projects, an increase of 37.3%. These included 13 projects over the $10 million investment threshold and 14 R&D projects that involve a total investment of $1.46 billion by the Chinese side, an increase of 1272.8% year-on-year.

(CFP Photo)

In terms of investment destinations, 22 projects are located in European countries and the United States, setting a series of records. For example, Wuxi Lead Intelligent Equipment Co Ltd invested $21.4 million to set up a branch in Hungary, which is the largest investment by Wuxi enterprises in Central and Eastern Europe. In addition, WuXi AppTec also established a branch in the United States with an investment of $500 million, marking the largest investment by Wuxi enterprises in the country.

Meanwhile, investment by Wuxi enterprises in countries along the Belt and Road Initiative and RCEP member countries increased by 133.4% and 162% year-on-year, respectively.