Wuxi's actual use of foreign capital up 34% in H1

A bird's eye view of Wuxi. [Photo/Wuxi Daily]

The actual utilization of foreign capital in Wuxi, East China's Jiangsu province, surged 34.05 percent year-on-year in the first half of this year to $2.88 billion, local media outlets reported on July 24.

Since it started building a presence in Wuxi in 1994, Murata Manufacturing Co, a world-leading electronic component manufacturer in Japan, has continued expanding its investment in the city.

"Years of high-quality service and support from Wuxi have laid a solid foundation for Murata's stable development in the city," said the chairman of Murata.

He added that Wuxi Murata Electronics Co will invest over $80 million in building a new factory to consolidate its front-runner status in the industry.

New industrial facilities under construction in Wuxi. [Photo/Wuxi Daily]

Because of broad prospects in Wuxi, increasingly more foreign businesses have decided to increase their investment and expand production in the city, including $35.1 million from Tripod and $20.53 million from Wam.

Wuxi's high-tech industries were more and more attractive to foreign capital. In the first six months of this year, the actual use of foreign capital by high-tech industries jumped 14 percent year-on-year to $114 million, accounting for 39.5 percent of the city's total.

To shore up foreign investors' confidence in Wuxi, local authorities have in recent years taken a series of measures to support foreign businesses and offered them more considerate and efficient services.