City sees 82.9% surge in foreign investment

The first quarter of the year saw an impressive 82.9% surge in foreign investment, which highlights the unwavering confidence that foreign enterprises continue to have in Shenzhen, as reported by Shenzhen Special Zone Daily yesterday.

The city’s compelling global allure has led many companies to establish themselves or expand their operations in Shenzhen. For example, French-Italian multinational company STMicroelectronics established a semiconductor packaging and testing innovation center in the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone. KASIKORNBANK Thailand opened its new China headquarters in Luohu District. Hexagon, a German company, set up its South China manufacturing base in Longhua District. Apple recently announced a new applied research laboratory that is set to open in Shenzhen this year.

Shenzhen’s substantial increase in fixed asset investment during the early months of this year is a noteworthy development since it reflects a significant 17% year-on-year increase. Interestingly, there was a surge of 106.1% in investments within the high-tech manufacturing sector, which emphasizes Shenzhen’s dedication to progressing towards sophisticated, intelligent, and environmentally conscious manufacturing practices.

The impressive growth in industrial investment, escalating by 80.1% during the first quarter, along with the remarkable 88.6% expansion in manufacturing investments, demonstrate the city’s robust momentum.

Behind these eye-opening statistics lies a vibrant landscape marked by a sustained enthusiasm for foreign capital inflows, pivotal projects propelling investments, and a surge in innovative initiatives.

March witnessed the full operational capacity of the inaugural phase of the Shenshan BYD Automobile Industrial Park within the Shenshan Special Cooperation Zone.

The complete operation of phases one and two of the industrial park is forecast to generate an annual output value exceeding 210 billion yuan and create over 54,000 employment opportunities. Simultaneously, within the Shenshan Special Cooperation Zone, two new energy storage projects, worth 10 billion yuan each, are rapidly progressing and signal a new era in sustainable energy development.

In the flourishing low-altitude economy, Fengyi Technology allocated 13 million yuan for the construction of 26 UAV take-off and landing sites. Additionally, Rongqi Intelligent committed 25 million yuan to an ambitious low-altitude digital platform research and development venture.