It was learned from the Department of Commerce of Jiangsu Province that, there were 355 overseas investment projects in Jiangsu Provincefrom January to June, 2022, with a year-on-year increase of 14.2%. The actual investment of China was 3.08 billion US dollars, and the amount of newly contracted overseas projects was 2.46 billion US dollars

In January 2022, the General Intelligent (Cambodia) Co., Ltd. project with an investment of 1.9 billion RMBwas successfully approved by Jiangsu Provincial Department of Commerce, which is the first project invested by Jiangsu Province in a RCEP member country after the RCEP agreement came into effect.

The Thailand factory is the first overseas production base of GS whose production capacity reaches 1 million units of TBR and 6 million units of PCR. In the future, GS will rely on the three production bases in China, Thailand and Cambodia to accelerate the internationalization process of production, R&D and marketing.

Gu Cui, the Chairman ofGS said "The sales for this new project will be more than 2 billion RMB. GS is accelerating internationalization because exports from Cambodia to the United States or Brazil would be tariff-free, which would be more advantageous to expand our market share."　

It is learnt that in the first half of this year, Jiangsu province invested 126 new overseas projects in RCEP countries, up 41.6% year on year, and China's actual investment reached US $820 million, up 60.8% year on year.

Jiang Xin, Deputy Director of the Department of Commerce of Jiangsu Province, introduced that outbound investment is featured with characteristics that can be summarized as "Three Strong Supports".

First, strong support from large projects. There were 9 major projects with outbound investment exceeding US $50 million, with an extra US $1.09 billion agreed by China side, which accounted for nearly 50% of the province's total. There were 13 projects with a total contract value of more than US $50 million, accounting for more than 60% of the total.

Second, strong support from manufacturing sector. Outbound investment in the manufacturing sector reached US $1.08 billion, accounting for nearly 50% of the Jiangsu province's total.

Third, strong support from key regions. There were 113 new outbound investment projects in countries along the “Belt and Road”, up 46.8% year on year. China's actual investment reached US $870 million, up 52.6% year on year. In the countries along the "Belt and Road", the amount of new overseas project contracts was 1.63 billion US dollars, and the turnover was 1.76 billion US dollars, accounting for more than 60% of the whole province. "At present, Jiangsu Province has established 7 overseas industryzone in 6 countries, 329 enterprises have entered the zone, and created more than 51,000 local jobs. Cambodia's Sihanoukville Special Economic Zone achieved a total import and export value of US $1.37 billion from January to June, up 38.2 percent year on year.