Wuxi's Binhu district received $53.4 million in foreign capital in the first quarter of 2019, accounting for 25.4 percent of its target yearly volume, according to the district commerce bureau.
Statistics showed that in the first quarter Binhu introduced a total of eight foreign investment projects, including a major project worth more than $30 million, and made a number of new foreign investment agreements worth $60.15 million.
Strategic emerging industries in Binhu attracted foreign investment of $310.8 million, accounting for 58 percent of the district's total, and are striving to make full use of the foreign capital to further develop.
Major enterprises in the bio-pharmaceutical industry – an industry with the highest potential for growth in the district – have increased their committed amount of foreign investment by $230 million and will utilize the capital to develop innovative medicine.
The district saw strong results in inviting foreign investors to develop key sectors such as big data, intelligent transportation, and internet of things. As one example, a logistics company with a modern one-stop supply chain service system was established in the logistics park in Binhu thanks to an investment of $20 million from Singapore Nanyang Investment Group.