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Jiaxing, East China's Zhejiang province, attracted 55 foreign-invested projects worth more than $100 million and 10 projects funded by Global Fortune 500 companies in 2019, local media reported on Feb 27.

The two figures put Jiaxing in first place among cities in Zhejiang in terms of number of foreign-invested projects worth more than $100 million and number of projects funded by Global Fortune 500 companies.

Last year, the paid-in value of foreign investment in the city surged 31.39 percent year-on-year to a record $4.13 billion, ranking second in Zhejiang, behind only Hangzhou.

Of the top 10 sources of paid-in foreign investment in Jiaxing, five are developed countries: Singapore, Germany, Japan, the United States, and South Korea. Their combined investment was valued at $755 million, accounting for 18.3 percent of the total.

The actual use of foreign investment in high-tech industries in Jiaxing soared 205.6 percent to $1.36 billion in 2019, accounting for 33 percent of all foreign investment in the city. The high-tech manufacturing sector actually used $520 million in foreign investment, a yearly increase of 92.4 percent, while the high-tech service sector used $830 million, a yearly uptick of 391.9 percent.

In the face of the novel coronavirus pneumonia outbreak this year, the local municipal bureau of commerce has held a number of online investment promotion activities and signing ceremonies.

As of Feb 27, Jiaxing had secured a total of 31 foreign-funded projects worth $1.61 billion, and as of Feb 26, 81.1 percent of foreign companies and all foreign companies above designated size in the city had resumed operations.

Jiaxing, East China's Zhejiang province, attracts 55 foreign-invested projects worth more than $100 million and 10 projects funded by Global Fortune 500 companies in 2019. [Photo/WeChat account: cnjxrb]