CHANGSHU in the neighboring Jiangsu Province expects to attract more foreign investment with China’s “Belt and Road” initiative, said its Mayor Zhou Qindi in Shanghai today.
The city, within one hour’s drive from Shanghai, hopes more foreign participation in its automobile, garment and equipment manufacturing sectors, or three pillar industries for Changshu, as well as in areas like new energy, new material, IT, bio-technology and environment protection.
Changshu has seen the setup of 3,400 foreign-invested enterprises in the city, with an accumulated investment of US$58 billion. Companies like automaker Jaguar Land Rover and Sumitomo Rubber have made notable presence in the past few years.
According to a survey released today by the Shanghai Academy of Social Sciences, more than half of foreign investors in Changshu consider the city an “excellent” place to invest, with up to 90 percent saying the government is highly efficient.