WND ramps up efforts to boost foreign investment

Wuxi National Hi-tech District. [Photo/WeChat account: xinwu_wx]

Wuxi National Hi-tech District in East China's Jiangsu province has been helping local enterprises expand into international markets as part of the city's attempt to achieve a higher level of opening-up.

Official statistics show that in the second half of the year, 120 key enterprises in the district have dispatched more than 1,000 people in 170 batches abroad to attract investment. To date, orders worth $8.2 billion and 66 new projects with a total investment of more than $4 billion have been made.

Most new orders came from the district's key industries, including integrated circuits, biomedicine, high-end equipment and other emerging industries.

Zhang Xuezheng, chairman of Wingtech Technology, has gone overseas to promote business this year. At the same time, the company has been sending many business entities to various foreign countries. This year, the company's overseas revenue accounted for more than 60 percent of its total amount, thanks to the expansion of business in North America, Europe, and Asia. The annual output value of the company is expected to exceed 20 billion yuan ($2.87 billion) next year.

The delegation of AstraZeneca lead by Leon Wang, executive vice president and international and China president of the company, has been carrying out economic and trade activities for more than a month in Dubai and Singapore, trying to obtain more support and resources for the Wuxi branch.

With over 100 people on the overseas business team of Wuxi Lead Intelligent Equipment Co, the company has signed strategic cooperation agreements with European battery manufacturer Automotive Cells Company and Volkswagen this year. The company's overseas orders are expected to increase by 4 billion yuan next year, according to its executives.

Officials from WND noted that more business activities will be organized to boost orders and attract investment in foreign countries such as Japan, South Korea, Singapore, and Europe, as the nation further optimizes its COVID-19 policies.