WND sees growth in FDI in actual use from Jan-June

A factory belonging to Atlas Copco, a Swedish industrial company, in Wuxi New District. [Photo/WeChat account: xinwu_wx]

According to the commerce bureau of Wuxi National Hi-Tech District, the region saw a 0.53 percent increase in foreign investment in the first half of this year.

The foreign investment in actual use of the district, also known as Wuxi New District, reached $729 million. Of this, the manufacturing sector attracted $602 million, a 30.9 percent increase from the previous year, accounting for 82.6 percent of the total foreign investment. High-tech industries drew $621 million, a significant 46 percent rise, representing 85.2 percent of the total foreign capital.

Major projects continued to play a crucial role in this growth. The multilayer ceramic capacitors (MLCC) expansion project at Murata Electronics Wuxi saw $30 million in investment during the first half of the year, aiming to enhance production capacity. Having been established in WND for over 30 years, Murata has become the largest Japanese-funded enterprise in the city.

Another Japanese company Sharp invested $30 million this March on the production and sales of its key products, including those for entertainment terminals, the metaverse, E-Posters, and large vehicle displays. Sharp operates three companies in WND, forming an integrated layout for production, research and development, sales, and supplier management. WND serves as the second headquarters for Sharp's small and medium-sized LCD business.

WND currently hosts over 1,800 foreign-invested enterprises, nearly 30 percent of Wuxi's total. In the first half of the year, it conducted six major overseas investment promotion activities targeting Japan, South Korea, France, Germany, and Hungary, signing agreements for projects worth over $1.5 billion.

In the second half of the year, the district plans to enhance its overseas investment promotion efforts by establishing physical presence in key markets such as Japan, South Korea, Singapore, and Europe. The focus will be on attracting leading foreign-funded enterprises and headquarters projects to strengthen the regional industrial chain.