The latest rankings of China s non-financial foreign direct investment by the Ministry of Commerce show that Hangzhou has ranked first for the first time in overseas investment among cities in China.
According to the person in charge of Hangzhou Municipal Foreign Trade and Economic Cooperation Bureau, 2010 has witnessed a frog-leap development of Hangzhou-based enterprises in the process of going global . 327 overseas investment enterprises are newly approved. In these enterprises, the Chinese investment, which is 35.29 times as much as that in 2005, accounts for more than 60% of the non-financial foreign direct investment across Zhejiang Province.
Not only are there overseas mergers and acquisitions, but there also exists the construction of overseas industrial parks, resource purchases, and the establishment of overseas marketing networks. In 2010, Hangzhou enterprises took on a new trend for multiple developments in going global .