Foreign trade flourishes in Wuxi over past decade

Wuxi in East China's Jiangsu province has experienced high-quality development in foreign trade over the past 10 years.

In 2021, the city's foreign trade exceeded $100 billion for the first time, reaching $105.7 billion, 50 percent more than 10 years ago and accounting for 13.1 percent of the total in Jiangsu.

Wuxi now trades with 220 countries and regions around the world. The number of enterprises with import and export records increased from 6,501 in 2012 to 11,329 in 2021.

Over the past decade, the actual utilization of foreign capital in Wuxi totaled $35.53 billion, and the city brought in 240 projects with total investment of over $100 million each.

In 2021 alone, Wuxi introduced 90 projects with negotiated registered foreign capital of more than $30 million, 1.7 times the figure in 2012.

So far, 108 Global Fortune 500 enterprises have set up 218 companies in Wuxi, among which an SK Hynix project worth $15.5 billion is the largest foreign investment project in the province.

Wuxi has also gone global over the past 10 years, investing $13.93 billion in 1,157 overseas projects. The Sihanoukville Special Economic Zone in Preah Sihanouk Province, Cambodia, which was founded and constructed mainly by Wuxi-based garment giant Hodo Group, introduced 170 enterprises and created nearly 30,000 jobs.