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100 from Fortune 500 Enter Suzhou

    According to sources rom Municipal Commission of Foreign Economy and Trade, with the latest investment in American Aluminum Bolting System (Suzhou) Company in SIP, which is to manufacture bolt series for civil aviation, railway, and automobiles with an investment of USD 60 million, the number of multinational corporations from Fortune 500, which have invested in operation in Suzhou, has reached 100, among which 28 have come from USA, 32 from Japan, 12 from France, 5 from UK, 6 from Korea, 3 from Netherlands, 2 from Switzerland, 3 from Finland, 1 from Norway, and 1 from Hong Kong.

    The latest statistics show that the open-type external-oriented economy of Suzhou has maintained speedy and healthy development. In the first half of this year, the actual paid-up foreign investment amounted to US$ billion 3.091, which is an increase of 58.5% over that of the corresponding period of last year. Notably, the service industry took the lead in attracting foreign investment, since nearly US$ 800 million has been invested in the 141 service projects. Besides, the scale of invested projects continued to expand. The newly approved investment projects with each exceeding US$ 10 million have numbered 424, their contracted foreign capital investment amounting to US$ 5.34 billion. In the meantime, the increase in registered capital maintained a head-on trend. US$ 2.583 billion has been increased in 707 projects, in which 124 projects increased their registered capital over US$ 10 million each, and contracted capital investment amounted to US$ 1.868 billion.

July 9, 2005

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