BEIJING, Sept. 26 (Xinhua) -- A new batch of foreign investment projects have been contracted in the Yangtze River Delta region recently, highlighted by high-end manufacturing, such as smart manufacturing, integrated circuits and new energy.
During the four-day 2019 World Manufacturing Convention concluded in Hefei, East China's Anhui province Tuesday, foreign manufacturing enterprises signed 89 investment projects, with total contracted value reaching 39.1 billion yuan. They include 40 advanced manufacturing projects involving an investment of 11.8 billion yuan, and 25 strategic emerging industry projects related to smart terminals, integrated circuits, biomedicine and new-generation displays, with an investment of 7.9 billion yuan.
At the 2019 China (Nanjing) Golden Autumn Economic and Trade Fair held in Nanjing, Jiangsu Province last week, 17 foreign-funded major projects were inked with a total investment of about 97 billion yuan.
With the upgrading of China's industrial chain and adjustment of the foreign investment policy, artificial intelligence (AI), new generation electronic and information technology, high-end equipment, new material and new energy become the main targets for foreign investment, industry insiders agreed.
Zhang Huanbo, a senior researcher at the China Center for International Economic Exchanges (CCIEE), told the Economic Information Daily that high-end manufacturing and strategic emerging industries have huge strength to motivate upstream and downstream industries, which will further promote the development of high-end industrial clusters at local level.
In the face of the huge Chinese market needs and growing confidence in China's policy environment, foreign investors are also actively expanding their business in China, the researcher added.
Besides the Yangtze River Delta region, many western provinces, including Yunnan, Shaanxi and Guizhou, have actively introduced measures to expand the opening-up of high-end manufacturing.
Yunnan province, for example, recently issued ten measures to facilitate foreign investment to enter in the fields of new energy vehicle manufacturing and special vehicle manufacturing in a sole proprietorship manner, with support offered in land use, electricity and employment.
Guiyang, capital of Guizhou province, proposes that by 2020, 30 new middle- and high-end manufacturing enterprises will be introduced or created, with the actual use of foreign capital expected to exceed 2 billion U.S. dollars.
The western region has a comparative advantage in land cost and labor cost to develop high-end manufacturing industries, Zhang noted. (Edited by Li Wenxin, liwenxin@xinhua.org)
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