CHINA Wuxi, Japan bolster ties with $400m in cooperation projects

CHINA

Wuxi, Japan bolster ties with $400m in cooperation projects

chinadaily.com.cn

21:33, September 11, 2020

A launch ceremony for Wuxi's cloud investment service platform for Japanese-invested enterprises is held on Sept 10, 2020. (Photo: chinadaily.com.cn)

Agreements for 12 projects worth $400 million and involving high-end manufacturing and service industrial chains were signed during the Wuxi-Japan Industrial Cooperation Conference on Sept 10.

Wuxi of Jiangsu province has been an attractive destination for Japanese investment thanks to a long history of cooperation between the two, and both parties wish to strengthen the relationship, said Wuxi Party Secretary Huang Qin at the conference.

According to a research report on Wuxi-Japan industrial cooperation issued at the conference, Japan and Wuxi have many cooperation opportunities in integrated circuit, machinery manufacturing and automobile industries.

In a bid to optimize the business climate and attract foreign investors, Wuxi launched a cloud investment service platform for Japanese-invested enterprises at the conference. The cloud platform uses big data and intelligent technology to share information about investment in the city with the enterprises.

Official statistics showed that Japan has become Wuxi's largest trading partner. Last year, the total value of imports and exports between the two was $11.25 billion. As of July, Japanese companies had invested $17.42 billion in 1,248 projects in Wuxi. Last year, most of the top 10 foreign companies in terms of tax payments in Wuxi were Japanese.

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