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Jiaxing expands trade cooperation with Europe

chinadaily.com.cn| Updated: January 7, 2024 L M S


A delegation from Jiaxing negotiates with foreign investors. [Photo/jiaxingren.com]

According to the Jiaxing commerce bureau, Jiaxing received $302 million of foreign investment from European countries between January and November last year, marking a 52.4 percent increase from the previous year. Key contributors include the German Allnex Group and the US Hormel Food, both ranked among the world's top 500 companies.

Last April, a Jiaxing delegation visited Germany, Switzerland, and Belgium, and signed agreements for two projects worth $600 million.

Last month, the CFO of the German Hannover Exhibition Company and her team visited Jiaxing and facilitated connections between the city's industries and high-quality exhibition resources in Hannover, Germany, building a bridge for Jiaxing manufacturing to reach a broader international market.

Jiaxing also implemented several measures to attract more foreign investment. Last June, the city introduced corresponding policies to offer rewards and subsidies for eligible projects in advanced manufacturing, the major service industry, and overseas multinational companies or world top 500 enterprise headquarters.

In addition, the city encouraged more foreign-funded enterprises to set up research and development centers in Jiaxing, promoting their transition from single manufacturing to integrated services. Presently, the city hosts 138 provincial-level and 221 municipal-level foreign-funded high-tech enterprise research and development centers, including two from European companies.