Huishan Life Science and Technology Industrial Park. [Photo/wxrb.com]
Wuxi's Huishan district had an outstanding performance in attracting foreign investment in the first three quarters of this year, with its registered foreign investment reaching $283 million, which was 30.5 percentage points higher than the city's average.
The actual use of foreign investment by Huishan's manufacturing industry increased by 30 percent year-on-year from January to October this year. Among the eight major foreign investment projects that each have investment exceeding $30 million, six are manufacturing projects.
Officials from the Huishan commerce bureau said that companies working in the smart manufacturing sector, such as biomedicine, industrial internet, and robotics, are particularly favored by foreign capital.
Jiangsu Bestbrain Health Medical Technology Co, which is located in Huishan Life Science and Technology Industrial Park, has invested more than $38 million in foreign capital through mergers and acquisitions for new projects like disposable tubular retractors for brain surgery and electric tumor treatment field devices.
WAM Conveying Machinery (Wuxi) Co, a wholly-owned subsidiary of Italy-based WAM Group, invested $10 million in profit growth this year. The group has also expressed its intention to expand production and to build a sub-brand in China with its Wuxi branch.
Huishan district has set up a special system to provide service administrators to foreign-invested enterprises, aiming to promote more investment.
