A bird's eye view of Wuxi. [Photo/Wuxi Daily]
The agreed investment by businesses from Wuxi in East China's Jiangsu province amounted to $1.72 billion in the first half of this year, up 202.1 percent year-on-year and ranking first in the province.
Investment in European and American countries made up the lion's share of investment. For example, Wuxi Lead Intelligent Equipment Co invested $21.4 million setting up an intelligent equipment company in Hungary.
Wuxi companies' investment in countries involved in the Belt and Road Initiative and RCEP members surged 133.4 percent and 162 percent year-on-year, respectively, in the first six months of this year.
Many local companies have accelerated the building of a global supply chain by establishing factories and warehouses overseas, significantly increasing the city's exports.
Thanks to its Singaporean branch, Hoyuan Green Energy Co's sales revenue in Southeast Asia and Europe is expected to increase by $200 million per year.
Moving forward, Wuxi authorities will help local companies set up overseas trading platforms and warehouses and support international cooperation through greenfield investment and cross-border mergers and acquisitions.
