WND's foreign investment hits $1.28b in 2020

Xinwu district of Wuxi attracted $1.28 billion in foreign investment in 2020, ranking first among all districts in the city, local media reported on Jan 21.

In light of the COVID-19 epidemic, the government of Xinwu district organized various signing ceremonies for high-quality projects in both online and offline venues.

In 2020, the district approved 107 projects with a single investment exceeding 100 million yuan ($15.4 million), totaling 46.1 billion yuan. Among these projects, 14 projects each attracted an investment exceeding 1 billion yuan and two projects each attracted 5 billion yuan in investment.

A total of 30 key projects started operation in WND in 2020, with an additional capacity of more than 18 billion yuan.

Leading enterprises have been attracted to do business in WND for its good business environment, including Shenzhen-based game company 7Road, Japanese dairy firm Yakult, and Jabil Group, one of the world's biggest electronics manufacturing service providers.

Yakult signed an agreement to invest $300 million to build its second plant, aiming to meet the rapid growth in the Chinese market. It only took 76 days for the project to start construction after the signing.

Jabil Group, one of the world's biggest electronics manufacturing service providers, built its Wuxi facility in 2004. It offers manufacturing services to customers in the computing and storage, networking, telecommunications, as well as mobility industries.

After years of development, its Wuxi operation has become Jabil's largest 5G smart manufacturing base, with the most complete product line in the world.

Wingtech Technology, a leading smart terminal product research and development (R&D) company, invested over 10 billion yuan to build its Wuxi super smart industrial park in WND under top international standards. The industrial park will use the most advanced production equipment to achieve a high degree of automation, according to the company.

Officials from the commercial bureau of WND said that they will continue to work to promote the business environment and favorable business policies in WND to attract more high-quality projects in 2021.