Employees at the car seat manufacturing plant of France-based Faurecia in the Xiuzhou High-Tech Zone prepare for official operations to commence in March. [Photo/cnjxol.com]

The actual utilization of foreign capital in Jiaxing, East China's Zhejiang province, jumped 26.4 percent year-on-year to $365 million in January, ranking second in the province, local media reported on March 1.

Over the past five years, Jiaxing's actual utilization of foreign capital increased from $1.6 billion in 2016 to $3.04 billion yuan in 2021, ranking third in the province.

The city also introduced 249 projects each with a total investment of more than $100 million from 2016 to 2021, ranking first in the province for three consecutive years.

As of the end of 2021, the accumulative actual utilization of foreign capital in Jiaxing totaled $41.5 billion and the city had brought in 167 projects from Global Fortune 500 companies and attracted investors from 105 countries and regions.

The Xiuzhou High-Tech Zone has been performing well in foreign investment attraction. It inked a cooperation agreement with Italy-based UFI Filter Group in January and is negotiating with investors from Germany, Spain, Italy and the United States on more than 20 projects.

Moving forward, Jiaxing will further its cooperation with internationally renowned intermediary agencies to attract more investment and make full use of the Regional Comprehensive Economic Partnership to introduce investments from Japan, South Korea and Singapore.