Jiangsu's Q1 foreign capital utilization tops rankings

Jiangsu’s economy has become increasingly efficient at absorbing inflows of foreign capital, and it has recently witnessed a rise in the amount of capital being invested overseas during the first quarter of 2019, according to statistics released at a press conference held by the Department of Commerce of Jiangsu province on April 25.

Jiangsu’s actual utilized foreign capital in the first quarter increased to $8.4 billion by 5.6 percent, ranking it first in China, while the province’s agreed investment abroad reached $2.09 billion.

The actual utilized foreign capital of 10 emerging industries related to advanced manufacturing in the first quarter climbed to $4.87 billion, representing year-on-year growth of 42 percent, and the biotechnology and new medicine industries recorded the highest growth rate at 328.4 percent.

The structure of actual foreign investment in the service industry also saw an improvement, with total actual foreign investment amounting to $3.72 billion, accounting for 44.3 percent of the provincial total.

Actual foreign investment in the modern service industry reached $1.83 billion, representing 49.3 percent of the total number in the province and the proportion increased 9.4 percentage points compared with the same period last year.

And investment from developed countries such as the United States has continued to grow. The actual foreign investment from the European Union rose by 52.3 percent –– to $460 million.

In the first quarter, investment from Jiangsu hit $10 million in 42 of its overseas projects. Twelve projects among them saw Jiangsu's input reaching more than $50 million.