-- The Yangtze River Delta region is a land of opportunity for investors and enterprises from all around the world.
-- Despite the impact of COVID-19, foreign enterprises are ramping up investment in the region.
-- The region's integration covers government services, transportation, medicare, environmental protection and other fields.
by Xinhua writers He Lingling, Xuan Liqi and Yin Xiaosheng
HANGZHOU, June 9 -- Contributing about one-fourth of the country's GDP and about one-third of foreign trade and investment, the Yangtze River Delta region in east China is a land of opportunity for investors and enterprises from all around the world.
Covering a 358,000-square-km expanse, about the size of Germany, the region consists of Shanghai and the provinces of Jiangsu, Zhejiang and Anhui with a total population of about 220 million.
Photo taken on April 9, 2020 shows the Lujiazui area in Shanghai, east China. (Xinhua/Chen Fei)
HOT DESTINATION FOR FOREIGN INVESTMENT
Despite the impact of COVID-19, foreign enterprises are ramping up investment in the region.
With 892 newly approved foreign-invested projects from January to April, Jiangsu Province led the country in the actual use of foreign capital with 10.37 billion U.S. dollars posted in the period, up 5.7 percent year on year. The figures in Shanghai and Zhejiang reached 6.46 billion U.S. dollars and 4.96 billion U.S. dollars, respectively.
German carmaker Volkswagen has announced plans to invest 2.1 billion euros (about 2.3 billion U.S. dollars) in China to develop its electric vehicle business in the country.
With an investment of 1 billion euros, Volkswagen will acquire 50 percent of JAG, the parent company of Anhui Jianghuai Automobile Group Corp., Ltd. (JAC Motors), and increase its stake in JAC Volkswagen to 75 percent, according to the agreement signed in Beijing on May 29.
Herbert Diess, CEO of Volkswagen AG, said the company, together with strong and reliable partners, is strengthening its electrification strategy in China. Its electric car business is growing rapidly and offers a great deal of potential for JAC Volkswagen.
By opening its market, China is offering Volkswagen new business opportunities, said Stephan Wollenstein, CEO of Volkswagen Group China.
