132 foreign-invested enterprises have been newly established in Hubei in the first quarter (Q1) of this year, an increase of 13.8 percent, the Department of Commerce of Hubei Province said on April 21, 2024.
Based on the same data source, Hubei’s actual use of foreign investment during the same period reached 3.8 billion yuan, ranking first in central China.
InQ1,the amount ofcontracted foreign capitalin Hubeimaintained stable growth. And the investment of developed economies such as Japan and the United States inthe provincegrew at a high rate.
Notably, theamount ofcontracted foreign capital in high-tech industriesof the provinceincreased by 144 percent year on year, while that of newly established foreign-invested enterprisesrose by15.2 percent.
Cities likeYichang, Jingmen andHuanggangenjoyed a higher growth rate than others. The utilization of foreign investment in cities across the province saw a more balanced performance.
Since the beginning of this year,Hubeihas continued to expand opening up, better foreign investment services, and make greater efforts to attract and utilize foreign investment.At major business events like the 2024 Fortune Global 500 Dialogue with Hubei Roundtable and the "Invest in Wuhan" Global Investment Promotion and Signing Conference for First-Quarter Projects, participants and representatives of foreign enterprises showed confidence in Hubei’s development. (en.hubei.gov.cn by Ruan Xinqi)