Zhejiang business investment delegation heads to Europe

A business delegation from Zhejiang province started a trip to Europe on Thursday to promote the province to international investors.

The delegation, with 18 representatives from provincial, municipal and county commerce authorities, will travel to Germany, Hungary and other European countries in the next 10 days to strengthen two-way investment with Zhejiang.

The "Invest Zhejiang Global Investment Promotion Year", which was launched in early January, includes 200-plus business delegations planned for this year to draw investment to Zhejiang.

During the journey, members of the delegation will promote the benefits of investing in Zhejiang to European companies, including its continually improving business environment, solid industrial foundation, large market potential and abundance of talent, according to a news release by the provincial Department of Commerce.

They are also expected to bring back valuable information for Zhejiang companies that are seeking to invest and develop in Europe.

"The goal of the trip is to bolster two-way investment, focusing on win-win cooperation," said Shi Qiqi, deputy director of the department and head of the delegation.

Ultimately, not only foreign companies will come to Zhejiang, but more Zhejiang companies will be able to invest overseas, Shi said.

The delegation will also introduce the latest developments from the third China-Central and Eastern European Countries (CEEC) Expo.

Zhejiang use of foreign capital in 2022 reached $19.3 billion, ranking fifth in the nation, while its outward foreign direct investment expanded to $1.3 billion, a year-on-year increase of 45.04 percent.