Home>Latest

Zhejiang's appeal to foreign investors demonstrated at CIIE

(ezhejiang.gov.cn) Updated : 2020-11-10

The third China International Import Expo (CIIE) in Shanghai provided a platform for foreign companies to showcase their latest products and services in front of potential buyers in China, and matchmaking activities for the country's local authorities and companies to attract foreign investment.

East China's Zhejiang province received $10.9 billion worth of investment from the 61 cooperation agreements it signed with foreign companies at the third CIIE on Nov 5, the first day of the expo's business exhibitions.

Impressed by the massive investment amount, Zhejiang news correspondents interviewed several foreign exhibitors on their views of the province's market.

The vast capacity of Zhejiang's market is attributable to both the consumption upgrades among residents and industrial restructuring by enterprises.

According to a Dutch manufacturer of grinding wheels, Zhejiang became its largest market in China last year. Numerous Zhejiang factories have also been investing heavily in purchasing new industrial robots to replace human labor.

According to a hydrogen project manager, Zhejiang province, particularly the city of Jiaxing, is accelerating its utilization of new energy, presenting alluring opportunities to foreign investors who've found that the Western market has reached a saturation point.

Foreign investors are also attracted to Zhejiang for its business-friendly climate. An executive of a foreign medical company that has set up plants in Zhejiang told a reporter that the company chose Zhejiang because it has the largest market capacity among all provinces and boasts a remarkably transparent and inclusive purchasing system for medical equipment.