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Suzhou expands international 'circle of friends'

Suzhou Bureau of Commerce | Updated:2024-04-25 16:24


Suzhou government delegation visits an enterprise in the Netherlands in February. [Photo/Suzhou Daily]

Since the beginning of this year, Suzhou has attracted a series of projects run by foreign-funded enterprises that are enhancing capacity, extending industrial chains, and firmly establishing themselves for long-term development in Suzhou.

Currently, Suzhou has attracted over 18,000 foreign-funded enterprises, with cumulative actual foreign investment exceeding $160 billion, ranking at the forefront of Jiangsu province and nationally. Among them, 175 multinational corporations from the Fortune Global 500 have invested in 486 projects in Suzhou.

One such example is Beumer Group, a German company that recently registered in Taicang, Suzhou. It was honored with a commemorative plaque at the group's headquarters in Beckum, North Rhine-Westphalia, Germany, on January 22.

Beumer Group plans to establish two entities in Taicang, focusing on the production and research of logistics-related equipment and systems, becoming the 500th German company to operate in Taicang.

Suzhou is actively exploring new models and formats for the development of the service industry, continuously enhancing the vitality of modern service industries, and promoting the improvement of industrial chains to form industrial clusters. This year, many advantageous industries in Suzhou have attracted foreign investment and established projects, strengthening the supply chain both upstream and downstream.

In recent years, Suzhou has continuously introduced projects to upgrade its industrial chain. Last year alone, Suzhou attracted 347 new foreign-funded projects in emerging industries, with newly registered foreign investment totaling $5.66 billion.

Additionally, Suzhou is actively exploring new models and formats for the development of the service industry, continuously enhancing the vitality of modern service industries. It has established 495 new projects in the modern service industry, with newly registered foreign investment amounting to $5.42 billion.