
AI and frontier tech fuel Hangzhou’s 12% foreign investment growth
High-tech industries accounted for a record 68.1% of the city’s newly utilized foreign investment, 25.7 percentage points above the national average.

High-tech industries accounted for a record 68.1% of the city’s newly utilized foreign investment, 25.7 percentage points above the national average.

In recent years, the Taizhou-based company has been accelerating its transition from a legacy sewing machine maker to a pioneer of advanced manufacturing.

In the innovation sector, Zhejiang plunged 16.14 billion yuan into 211 science and technology foundation projects, with an investment completion rate of 38.47%.

About 90% of the projects fall under Zhejiang’s “415X” framework, which groups industries into four world-class sectors, 15 provincial clusters and a pipeline of emerging fields.

Output from the clusters rose 8.5% year-on-year, outpacing large-scale industrial growth by 1.6 percentage points.

The latest revision expands its forward-looking layer, with a sharper focus on space technology and low-altitude aviation systems.
The agreements, covering 42 projects across sectors including high-end equipment, life sciences, new energy and advanced materials, mark one of the district’s largest coordinated investment drives to date.

Liu said advancing the “296X” initiative would be central to achieving major breakthroughs during Hangzhou’s 15th Five Year Plan period (2026-2030).