Xinhua Silk Road: Eastern China city welcomes record-high foreign investment amid vibrant emerging industries

October 22, 2024 06:29 PM AEDT | By Cision
Follow us on Google News: https://kalkinemedia.com/resources/assets/public/images/google-news.webp

BEIJING, Oct. 22, 2024 /PRNewswire/ -- After paid-in foreign investment renewed to a 20-year high last year, Jiangyin, a private economy-reliant city in east China, saw its January-August data of the kind surge to 1.16 billion U.S. dollars.

Photo provided by the publicity department of CPC Jiangyin municipal committee shows an aerial view of Jiangyin City in east China's Jiangsu Province.
Photo provided by the publicity department of CPC Jiangyin municipal committee shows an aerial view of Jiangyin City in east China's Jiangsu Province.

The city, as a pacesetter among comparable localities in Jiangsu Province, absorbed the eye-catching foreign investment from both old and new foreign investors eager to participate in its strategically emerging industries.

Boasting relatively resilient foundations for integrated circuit, new energy, high-end equipment, bio-pharmacy, and other industries, Jiangyin City embraced 44 new foreign-invested projects in the first eight months of this year.

For instance, the city welcomed in August a new investment project from Trustchip Korea, which planned to build its Jiangyin headquarters and semiconductor equipment assembly and production base there.

Upon operation, annual sales of the base is predicted to reach 350 million yuan. Its second phase mulls construction of the China-Korea chip valley industrial park, where a 3rd generation automotive-grade semiconductor module packaging and wafer factory is planned to be founded.

Together with Jiangyin City, the South Korean company endeavors to jointly build a new model that exemplifies vibrancy of the integrated circuit industry there.

As a miniature of foreign companies' participation in the major strategically emerging industries of Jiangyin, 30 others such as Unilever and EDF also established new investment programs in Jiangyin this year.

Other "old friends", referring here to existing foreign-funded enterprises in Jiangyin, scaled up their investment too.

After 10 million U.S. dollars of investment out of profits were in place in early 2024, Alfa Laval (Jiangyin) equipment manufacturing Co., Ltd. who has been running business in China for 30 years intended to upsize its investment by 10 million U.S. dollars next year.

All of these resulted largely from the city's unremitting efforts in creating a fair, rule of the law-based, policy-leading and innovation-encouraging business environment for foreign-funded enterprises.

Under a 3-year action plan to pool foreign-funded enterprises' regional headquarters, real rewards were provided to foster their investment expansion, R&D innovation and profits-based reinvestment in Jiangyin.

Currently, these business-friendly policies and life facilitation measures of six aspects regarding entry and exit, payment, working, living and travelling, consumption, education and medicare of foreigners are translating into pragmatic boosters for the city to attract more foreign investors.

Original link: https://en.imsilkroad.com/p/342713.html


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.

Two ASX Listed Stocks Giving Bullish Indications

Recent Articles

Investing Tips

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.