Overseas Zhejiang merchants return $169 billion investment

(ezhejiang.gov.cn) Updated : 2017-03-06

Thanks to the "return of Zhejiang merchants" campaign initiated in 2012, an increasing number of quality projects have settled in Zhejiang. The Zhejiang economy has gained momentum with paid-in investments totaling 1184.4 billion yuan ($169 billion) from overseas Zhejiang merchants over the past five years.

Last year, 16 agreements with a total investment of 16 billion yuan ($2.29 billion) were signed on-site at the Yue Merchants Conference in Shaoxing. Five months later, over 1300 overseas Wenzhou business people brought home projects totaling 58.3 billlion yuan ($8.33 billion). The new ideas, new technology and capital have enormously aided Zhejiang's capital and network resources.

It is estimated that there were 278 projects with a gross investment of over 1 billion yuan ($142.86 million), 174 projects with 1.5 billion yuan ($214.29 million) investment and 69 ones over 3 billion yuan ($428.57 million) investment in 2016.

According to a 2017 provincial government work report, industries set to be supported cover information, environmental protection, health, tourism, fashion, finance, high-end equipment manufacturing and culture. The investments in projects from overseas Zhejiang merchants related to these eight sectors have exceeded half of the total amount so far, noted by an officer of the provincial Development and Reform Commission.