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Wenzhou Hits a New Milestone in Using Foreign Investments
【Fonts: Large Medium Small 【Source: Wenzhou·China 【Date: 2019.10.15】

It is learned from Wenzhou Investment Promotion Office that, during the first three quarters of 2019, there were 68 new approved projects, with a 33.3% year-on-year growth. The total foreign investment increased by 95.9% to US$443.77 million, exceeding 7.6% of the goal set for the third quarter, which hit a new milestone in the use of foreign investments.

As was introduced, the foreign investment of Q1-Q3 developed structurally well with some extraordinary vital projects. Since January, following the policy theme of “Important Project and Great Breakthrough”, we tried to multiply the impact of vital project in order to strengthen the investment promotion and capital introduction so that the funds already arrived had increased significantly. In Q1-Q3, there was a utilized foreign capital of over US$361.57 million (including 10 items, each worth over US$10 million), occupying 81.5% of all foreign investments into Wenzhou. There was US$9.28 billion for the total investment under negotiation, the projects of which included Cruise Town, Cangnan Offshore Wind Power of China Resources Power, Futurity Wind Power worth more 2 billion respectively and other 15 items, each worth over $100 million.

The industrial structure had been optimized reasonably. There was a great increase in Wenzhou’s High Technology industries in attracting foreign funds. In Q1-Q3, the foreign investments in High Technology industries had increased 36-fold to US$123.61 million, taking about 27.9% of all foreign investments. The manufacturing sector of High Technology industries increased 112-fold to US$36.06 million; the service sector of High Technology industries increased 29-fold to US$87.55 million. All of these formed a rapid developmental power in Technology and Intelligence, exceeding the task of the whole year ahead.

By implementing the principle of “attracting foreign funds and multiplying value”, we made efforts to encourage enterprises to expand the capital source in order to meet the financial support for further development. In Q1-Q3, the actual amount of arrived capital was US$86.55 million, accounting for 19.5% of all the foreign investments. Invested with US$380 million in 2013, Wenzhou Haijia Construction Co., Ltd won further funds for several times. Funded another US$400 million this year, the corporation manifested the determination of “taking root in Wenzhou, developing from Wenzhou”.

As introduced, Q1-Q3 contributed the diversity of foreign investments in terms of source-funds, that is, the amount of foreign funds from Asia  was $187.6 million, with an increase of 20.6%, taking 42.3% of the proration of the whole city; the South America was $138.21 million, with an increase of 127.4%, taking 31.1%; while the European Union was $113.44 million, making 25.6% of the whole city.

Wenzhou Investment Promotion Office is going to maintain the present funds, multiply the increase, and further the potential. Great efforts and measures will be taken to utilize foreign investments and to expand their channels, both quantitatively and qualitatively.

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