WND sees surge in FDI in H1

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

In the first six months of this year, Wuxi National Hi-tech District, or Wuxi New District (WND), saw a remarkable surge in foreign direct investment (FDI) to a total of $725 million, an impressive 86 percent year-on-year increase.

The manufacturing sector received $460 million in FDI, up 127.84 percent year-on-year and contributing 41 percent to the city's total inflow. Equally noteworthy is the high-tech industry, which attracted $426 million, soaring by an astounding 365.97 percent and accounting for 37.4 percent of the city's total FDI.

WND's solid industrial base and favorable business environment have been crucial in attracting foreign enterprises to double down on their investments. In the first quarter of this year, Norbert Schiedeck, CEO of Vaillant Group, a German heating, ventilation, and air-conditioning technology company, spoke highly of the WND when signing an agreement to establish the group's Asia-Pacific research, development and manufacturing base.

Schiedeck praised the district's solid industrial foundation and excellent living environment, while also acknowledging the city's education system that continuously supplies high-quality engineering talent.

The headquarters project, with an investment of 200 million euros ($221.54 million), represents Vaillant's largest investment in recent years and is its first and only R&D and manufacturing base outside Europe.