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The actual use of foreign capital in Jiaxing, East China's Zhejiang province soars 77.8 percent year-on-year to $289 million in January. [Photo/WeChat account: jxfabu]

The actual use of foreign capital in Jiaxing, East China's Zhejiang province, soared 77.8 percent year-on-year to $289 million in January, according to the local commerce bureau.

The total amount and growth rate placed the city second provincewide.

In January, Jiaxing introduced 26 foreign-invested projects, including four projects with a total investment of more than $100 million.

Among them, the modern agricultural industrial park has a total investment of about 3 billion yuan ($464.04 million) and a registered capital of 500 million yuan (not including foreign capital).

The industrial park will be involved in crop farming, the deep processing of agricultural products, storage, logistics, as well as tourism development.

Another project, the auto parts manufacturing base, is worth 2 billion yuan and will be engaged in the design, production, and marketing of intelligent seat's angle adjusters, sliding rails, as well as fine blanking parts.

After being put into operation, the base is expected to produce 800,000 angle adjusters and 700,000 sliding rails per year, generating 2 billion yuan in sales revenue and 100 million yuan in tax payments.

A staff member from the Jiaxing commerce bureau said that the city aims to guarantee more than 50 percent of over $100 million worth of projects introduced in 2020 that will start construction, as well as that over 55 percent of major projects under construction in the city will begin operations this year.