Home > News

Fortune Global 500 firm to invest in Wuxi Xishan

Updated : 2016-12-08
(chinadaily.com.cn)

Fortune Global 500 firm to invest in Wuxi Xishan

The main building of Xishan Economic Technological Development Area. [Photo/provided to chinadaily.com.cn]

Xishan Economic Technological Development Area in Wuxi has recently reached an agreement with Japan's Sumitomo Corporation to set up a metal company.

Sumitomo Corporation, headquartered in Tokyo, Japan, is a multifaceted business. Their business activities include the sale of a variety of products and services within Japan, import/export, trilateral trade and domestic and international business investment.

The project that Xishan Economic Technological Development Area has brought in features an investment value of $60 million. The new metal company will be engaged in the production and sale of metal wares, molds and accessories.

According to Xishan district, the construction of the project will begin in April 2017, and is scheduled to be completed by the beginning of 2018. The project is expected to yield an annual sales revenue of 400 million yuan ($58 million).

According to the district government, the introduction of quality investment projects has been made a priority and serves as motivation for regional economic development. Statistics show that from October this year, the district has added 563 domestic and 18 overseas firms, up 47 and 13 percent from same period last year, with total registered capital exceeding $2.2 billion.

8.03K
Videos
 

Top of the crops: summer brings peak in fruit and tea picking

Purple lavender comes into full bloom

Recommended bookstores in Wuxi

In photos: nesting of pheasant-tailed jacanas documented in Wuxi

News
Events
Global Exchanges
Specials
Sports
Overseas
Business
Companies
Biz Updates
Industries
Development Zones
Policies
Opportunities
Travel
Itineraries
Maps
Attractions
Dining
Accommodation
Specialties
Shopping
Entertainment
Transportation
Culture
Cultural Facilities
Culture News
Folk Customs
Museums
Heritage
Performances
Living
Through foreign eyes
Education
Hospitals
Visa
Services
About
E-books
Statistics
Honors
Government Officials
Districts
Sister Cities
Videos
Photo Gallery
Copyright © 2015 China Daily. All rights reserved.
Sponsored by Wuxi Municipal Party Committee Information Office.
Presented by China Daily.
备案号:苏ICP备14054684号-2