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A new wave of foreign investment is emerging in Cixi: Following the signing and settlement of 37 foreign investment projects with a total investment of 453 million US dollars during the Zhejiang International Trade Fair, negotiations on a number of major foreign investment projects such as semiconductor industry technology parks, large supermarkets, and five-star hotels have progressed smoothly. From January to July of this year, the city agreed to utilize $107.36 million in foreign investment, exceeding the actual performance of last year. The actual utilization of foreign investment was $56.47 million, an increase of 87% and 105% respectively compared to the same period last year.
The city has seized the opportunity of the construction of the Hangzhou Bay Cross Sea Bridge and arranged a special support fund of 100 million yuan to accelerate the development and construction of physical and industrial investment carriers centered on the Hangzhou Bay New Area and key characteristic industrial parks. The Hangzhou Bay New Area, located near the south bank of the Hangzhou Bay Bridge, has a planned control area of 120 square kilometers. The first phase of the 10 square kilometer industrial block has signed 17 projects into the area, with a total investment of 2.54 billion yuan, of which foreign investors have subscribed 120 million US dollars. Taking into account regional industrial advantages, the city is carefully planning a series of special investment projects such as China Cixi Home Appliance Technology City, China Ancient Furniture City, and Modern Logistics Center Park. With the establishment of investment highlights one by one, the effect of foreign capital gathering in the park is highlighted. Since the beginning of this year, various industrial parks in Cixi have actually utilized foreign investment of 27.4 million US dollars, accounting for 48% of the total foreign investment introduced by the city.