The second phase of a $1-billion investment project between Suzhou Industrial Park and Germany-based BOSCH, a major automotive technology supplier in the world, has broken ground, with operations expected to start in the fourth quarter of 2025. Photo：Suzhou Release

Suzhou city, a major manufacturing hub based in East China's Jiangsu Province, denied online allegations that it had seen a significant withdrawal of foreign capital, the Suzhou municipal government said over the weekend.

The city released the statement following recent online claims as well as rumors that a good number of foreign-invested companies are withdrawing from Suzhou, an allegation which has sparked debate on social media.

In October 2024, the number of foreign-invested enterprises in Suzhou reached 24,639, marking a 1.91-percent year-on-year growth, with additional 35 enterprises registered in the month compared to a month earlier, data from Suzhou's Market Supervision Administration said.

This represents a net growth of nearly 1,000 enterprises from December 2023, when the figure was 23,640.

Additionally, Suzhou has been actively pursuing project collaborations and strengthening ties with foreign investors across a wide range of industrial sectors.

For instance, the second phase of a $1-billion investment project between Suzhou Industrial Park and Germany-based BOSCH, a major automotive technology supplier in the world, has broken ground, with operations expected to start in the fourth quarter of 2025, Suzhou Release, the WeChat account of the Suzhou municipal government reported on October 17.

In its 30 years of development, Suzhou Industrial Park has welcomed over 400 enterprises from Singapore, with actual investments exceeding $4.9 billion.

Global Times