The actual utilization of foreign capital in Wuxi reached $2.72 billion in the first 10 months of 2019, ranking third in East China's Jiangsu province, the government has reported.
Strategic emerging industries have become the new growth point in the utilization of foreign capital, marking a year-on-year increase of 27 percent to reach $2.18 billion, the highest in Jiangsu province.
A total of 33 overseas projects worth over $300 million were settled in Wuxi, including Canadian auto-part producer Linamar's new factory and US biopharmaceutical company CASI Pharmaceuticals' state-of-the-art manufacturing site.
German automotive components supplier Bosch also launched a 48-volt battery project in Wuxi this March. It is expected to generate up to 8.7 billion yuan ($1.38 billion) in revenue every year after it begins operating in 2021.
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