Foreign investors eye more opportunities in high-tech industry
Hefei: Since the beginning of the year, Volkswagen Anhui’s MEB plant in Hefei City, the capital of east China’s Anhui Province, has been functioning at full capacity to produce new energy vehicles (NEVs) for the European market.
At the advanced factory, around 1000 robots are assigned to perform various duties and automated guided vehicles carry materials in an orderly manner.
At the same time, the industrial CT undertakes highly efficient quality analysis in real time.
With an investment of over 30 billion yuan (about 4.22 billion U.S. dollars) (FJ$9,485,461,398.54), Volkswagen has built a new hub in Hefei that covers the entire value chain from research and development (R&D) to manufacturing, sales and services of NEVs, with 1200 R&D personnel.
As China is accelerating the development of modern industrial systems and sci-tech innovation, many more enterprises like Volkswagen are prioritizing their investment in high-tech industries and seeking new business opportunities.
In 2023, China’s actual foreign direct investment (FDI), which remained at a historically high level, hit more than 1.13 trillion yuan, according to the Ministry of Commerce.
At November, American biotech company Moderna commenced construction of its first pharmaceutical plant in China, with an estimated investment of 3.6 billion yuan (FJ$1,124,829,368.27). In the same month, the construction of BMW’s new battery production plant in Shenyang, northeast China’s Liaoning Province, was completed.
This year, China’s high-tech industries are poised to remain focal points for foreign investors.