Wujiang woos more investors

WUJIANG, an emerging city in Jiangsu, is expanding its property development with the offer of 28 plots of land for lease to overseas investors.

A trade delegation, headed by mayor Zhang Yuliang, is now in Hongkong in a promotion drive to attract foreign investment to the city.

Mr Zhang said the property developments were only part of the projects, which also included manufacturing, agriculture and tourism.

He said foreign investors were welcomed to develop industrial, residential and commercial properties on the 28 plots of land, totalling more than four million sq metres in site area.

Since August last year the city has leased 60 plots of land, totalling 177.8 hectares.

Mr Zhang said Wujiang had approved the establishment of more than 400 foreign-funded enterprises last year, involving more than US$200 million in foreign capital.

Of the newly-approved foreign-funded enterprises, about 35 per cent was funded by Hongkong companies, he said.

To further improve the investment environment, Wujiang is developing a 40 sq km economic development zone, which is intended to be a base for industrial, commercial and tourism-related enterprises.