Hangzhou’s foreign investment has seen robust growth in the first two months of this year, with the city attracting a total investment of $2.52 billion from overseas enterprises, local media outlets reported.
Hangzhou approved 53 new foreign investment projects with a total investment of $2.08 billion in the first two months of this year, and 11 projects increased their investments, which now total $405 million.
Specifically, 22 high-tech projects were focused on solar energy, electrical engineering, technology research and development, software, and information technology, with a total investment of $448 million, a year-on-year increase of 58.3 percent.
Hangzhou’s enterprises have also increased their investment in RCEP member countries as the newly-approved 11 projects registered a total investment of $81 million, a year-on-year increase of 104.54 percent.
The city currently has six overseas cooperation zones across the world, covering fields such as petroleum refining, manufacturing, agriculture, and technology research and development. This fits in with the trend of Hangzhou’s industry investment becoming increasingly diversified globally, especially among countries along the Belt and Road Initiative and RCEP member countries.
This year marks the 10th anniversary of the Belt and Road Initiative. With the accumulation of regional cooperation opportunities, Hangzhou companies with an international vision are sure to enjoy more trade, investment, and development opportunities.
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