VI. Open Economy

Foreign trade gradually improved. In 2016, Changzhou’s foreign trade volume stood at 182 billion RMB, up by 4.6% in comparison to 2015. Among this total, exports grew by 4.2% to 137.5 billion RMB. Local enterprises expanded exports to emerging markets, especially to countries alongside the Silk Road Economic Belt and Maritime Silk Road. In fact, exports to these countries grew by 9.8%, 5.6% higher than the average export growth rate. Hi-tech exports increased by 5.1% to 24 billion RMB.

Progress was made in foreign investment despite all the difficulties. 4.11 billion US dollars of new foreign investment was agreed upon through 2016, up by 48.3% over 2015. Of the total, 24 investment projects were above 100 million US dollars each, 10 projects more than those of 2015. Also in 2016, 2.5 billion US dollars were actually utilized, up by 0.5% over 2015. Besides, 6 new regional headquarters and functional facilities (provincial-level) of multinational companies were established in the city. And 5 Global Fortune 500 companies like Sumitomo Electric and Fujitsu further expanded their investments in the city.

International cooperation continued to advance. In 2016, 91 new outbound investment projects were recorded with a total agreed investment of 970 million US dollars from local enterprises, up by 27.9% over 2015. Among these projects, 14 were connected to the “Belt and Road” initiative with an agreed investment of 290 million US dollars from local enterprises, accounting for 30% of the total. Service outsource contracts worth of 490 million US dollars were signed and those worth of 410 million US dollars were executed, up by 27.9% and 29.0% respectively. Of this total, offshore service outsource contracts worth of 160 million US dollars were signed and those worth of 140 million US dollars were executed, up by 7.2% and 24.6% respectively.

Local development zones were accelerated. In 2016, development zones across Changzhou registered a general public budgetary revenue of 23.66 billion RMB and received an industrial investment of 143.65 billion RMB as well as an infrastructure investment of 32.37 billion RMB. Besides, these development zones utilized a total foreign capital of 2.3 billion US dollars and secured an agreed foreign investment of 3.7 billion US dollars. 37 new foreign projects were added to the development zones with an agreed investment of over 30 million US dollars each, taking up 86% of the city’s total. Moreover, the Zhongguancun Science Park was given a go-ahead to build itself into a provincial hi-tech zone. And the Jiangsu-Macao Cooperation Park was official launched. In addition, the Wujin National Hi-tech Industrial Zone and Wujin Economic Zone were designated as national eco-friendly model industrial zones.

Internal exchanges remained active. Changzhou received 215 foreign delegations of 1399 persons throughout 2016. Among them were 35 groups of 174 embassy and consulate officials, 43 groups of 242 persons from international sister cities, 17 groups of 52 foreign journalists, and 39 trade delegations of 371 persons. Two more cities were added to Changzhou’s international sister city list in 2016, namely, Minden of Germany and Solihull of the UK.

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