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Zhejiang’s Utilization of Foreign Investment Exceeds $18 Billion in First 5 Months

Reporters learned on June 17 from Zhejiang Provincial Department of Commerce that, from January to May, Zhejiang registered another 1,080 foreign-invested companies whose investment amounted to $18.04 billion in total; $11.88 billion in terms of contract value, up 65.1% year on year, and $6.99 billion has been used, up 17.2% year on year.
In terms of “energy level”, the number of large projects has increased fairly fast. Of all the projects introduced into Zhejiang in the past five months, 119 were over $30 million each, 28 more compared to the same period last year; the 119 projects, spanning from such sectors as biomedicine, new materials, new energy, logistics, amounted to $13.35 billion in total, accounting for 74.0% of the total foreign investment. Also, there appeared a clear increase in foreign investment from developed countries as actual use of foreign investment from the EU reached $600 million, up 112.8% year on year, and that from the US and Japan increased by 27.9% and 35.3% respectively.
As investment in the tertiary industry surges, Zhejiang’s foreign investment mix continues to optimize. Throughout the first 5 months, actual foreign investment into the secondary industry reached $2.46 billion, up 1.4% year on year; $4.51 billion into the tertiary industry, up 29.5% year on year, accounting for over 60% of the total. Most eye-popping seem to be high-tech manufacturing and high-tech services which, in terms of foreign capital actually used, grew by 56.3% and 84.7% each over the same period last year.


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