Fresenius Kabi SSPC, located in Binhu district, Wuxi, is a pharmaceutical company controlled by German multinational Fresenius Kabi. [Photo/WeChat account: wxbhfb]

Binhu district in Wuxi, East China's Jiangsu province has been experiencing robust development in its open economy. This is due to the district's years of efforts to improve its business environment and government services to attract foreign investors and foreign trade companies.

In the first eight months of 2022, Binhu's foreign trade totaled $2.66 billion, a year-on-year increase of 25.4 percent. Its imports and exports were valued at $820 million and $1.84 billion, up 35.3 percent and 21.4 percent respectively compared to last year.

Exports through cross-border e-commerce in the same period reached $210 million, a growth of 56.6 percent from a year ago.

In the meantime, Binhu's actual utilization of foreign capital amounted to $470 million, equivalent to 144 percent of its annual goal.