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Suzhou sees more foreign investment in new year

Suzhou Bureau of Commerce | Updated:2023-01-17 15:17

Swire Coca-Cola and Kunshan, a county-level city of Suzhou, sign a deal on Jan 12. [Photo/WeChat account: suzhoufabu365]

Suzhou in East China's Jiangsu province has seen various deals signed for key foreign-invested projects since the beginning of the new year.

Kushan, Suzhou Industrial Park, and Wujiang district all held signing events for foreign investment projects on Jan 12.

Swire Coca-Cola will spend a total of 2 billion yuan ($294.8 million) in Kunshan to build a R&D and manufacturing base and a distribution and sales center for East China. The branch is expected to see an annual output of 1.6 million metric tons of beverages.

Bosch signs to expand investment in Suzhou on Jan 12. [Photo/WeChat account: suzhoufabu365]

Bosch, a German multinational engineering and technology group, will invest over $1 billion in a new energy vehicle core components and autonomous driving R&D and manufacturing base in Suzhou Industrial Park.

Statistics showed that in 2022, the use of foreign capital in Suzhou increased against trends. The actual use of foreign capital in the year increased by 35 percent year-on-year to $7.3 billion.

In order to seize overseas business opportunities and attract investment, Suzhou took the lead in organizing chartered flights to Japan and Europe last November.

During their trip to Japan, the Suzhou business delegation received new orders worth over 1 billion yuan. Suzhou ITTAR Electric Technology Co held 12 meetings with well-known Japanese manufacturers and retailers such as Hitachi, Mitsubishi, and Fuji Medical and achieved cooperation.

Suzhou's business trip to Europe also attracted a total of $5.99 billion in intentional investment from France and Germany. 

A group photo of the Suzhou business delegation at the Nanjing Lukou International Airport in Nanjing, Dec 9, 2022. [Screenshot from Suzhou Broadcasting System]