China's Jiangsu sees robust foreign investment in 2022

Staff members are seen at Bayer HealthCare Company Limited Qidong Branch in Qidong, east China's Jiangsu Province, Dec. 2, 2020. (Xinhua/Zhang Yuwei)

NANJING, Feb. 21 (Xinhua) -- Foreign investment in China's major economic powerhouse Jiangsu Province, in actual use, reached 30.5 billion U.S. dollars in 2022, a year-on-year increase of 5.7 percent, ranking first in the country, according to a press briefing on Monday.

Jiangsu saw a rapid growth in foreign investment in its manufacturing and high-tech industries, with year-on-year increases of 32 percent and 50.3 percent, respectively. The reinvested profits also increased by 232.1 percent.

In 2022, the province approved an additional 35 regional headquarters and functional institutions of transnational corporations, bringing the total to 366.

Jiang Xin, deputy director of the provincial department of commerce, said that Jiangsu demonstrated a strong resolve to enhance foreign investment last year, employing multiple measures, such as encouraging enterprises in relevant regions to make overseas trips to attract investment and strengthening the resource guarantees for key foreign investment projects.