Huzhou's outbound investment reached $121.95 million in the first quarter of this year, representing a year-on-year increase of 143.5 percent, official data form the Huzhou municipal bureau of commerce showed.

Its growth rate was the fourth highest in East China's Zhejiang province.

Southeast Asian countries are magnets for investment from Huzhou. From January to March of this year, the city invested in nine projects worth $116.75 million in countries like Vietnam, Thailand, Cambodia, and Myanmar, with the combined value accounting for 95.7 percent of the city's total.

Vietnam was the most favored investment destination among Southeast Asian countries. Huzhou's investment in the country reached $55.2 million over the three-month period, accounting for 45.3 percent of the total.

The manufacturing sector made up the lion's share of Huzhou's investment overseas. Eight of the 11 outbound investments from the city were involved in sectors like furniture, textiles, and general equipment, with an accumulative value of $116.25 million.

In addition, the city contracted a total of 15 construction projects in more than 10 countries and regions, such as Germany, the United Kingdom, the United States, Russia, the Czech Republic, Poland, and Singapore, raking in $29.404 million in revenue, up 80.8 percent year-on-year.

The contracted projects covered fields like communications equipment, new energy, smart equipment, and mineral development.

The turnover of local companies operating overseas amounted to $30.25 million over the three month period, up 75.3 percent year-on-year, the second highest in the province.