Suzhou Ranks First in Registered Foreign Capital in China
in the First 6 Months of the Year
As a pace setter in the open economy of Jiangsu Province, Suzhou won the honor of ranking the first in China in realizing foreign registered capital in the first half of the year. The registered investment amounted to 9.468 billion US dollars, with an increase of 9.2%, and the paid-up foreign capital amounted to 3.508 billion US dollars, ranking the second among all large and medium-sized cities in China.
There are four distinct features in attracting foreign investment in Suzhou. Firstly, the invested projects are all of fairly large scale. Of the 1,231 newly approved projects, 564 have exceeded 10 million USD each, with a total of 7.904 billion registered capital, comprising 83.5% of the total investment in the municipality. Secondly, the projects showed a high proportion of hi-tech industries such as electronics, communication, and machinery. TPT Technology (Suzhou) Co., Ltd., for instance, invested nearly 100 million USD. Thirdly, a breakthrough was seen in the investment in service sector. A total of 1.231 billion USD went into the investment in service industries. Fourthly, investors from Japan, Korea, and Europe took the lion’s share in investment. Among the districts and cities of Suzhou Municipality, Suzhou Industrial Park ranked the first both in registered capital (2.42 billion USD) and paid-up investment (694 million USD).
July 25, 2006