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Pinghu sees robust foreign capital infusion

chinadaily.com.cn| Updated: April 15, 2024 L M S

Nidec Corp, a Japanese giant, recently bolstered its presence in Pinghu, a county-level city of Jiaxing, Zhejiang province, with its 33rd investment increment, pouring $10 million into building the nation's pioneering harmonic gear reducer line.

This has deepened Nidec's roots in Pinghu since 1999, highlighting the city's growing international investment appeal.

Nidec's Pinghu journey has seen the birth of 17 ventures across sectors like motors, new energy vehicle systems, and engineering services, showcasing escalating growth and increasing strength. The corporation's total investment now stands at a robust $1.48 billion, making Pinghu its largest industrial hub in China.

Pinghu, a magnet for Japanese investment in the province, has attracted significant foreign capital, focusing on Japan and Germany. Its strategies include regular dialogues with foreign enterprises, targeted industry promotions, custom-built factories, and comprehensive services, all contributing to a stronger investment pull.

This year to date, Pinghu has secured 48 new projects, with investments totaling 38.6 billion yuan ($5.33 billion), cementing its status as a prime destination for the expansion of international business.