In the first quarter of this year, 17 new foreign companies registered in Zhangjiagang of Jiangsu province, increasing 112 percent from the same period last year, according to statistics from the Zhangjiagang Administration for Industry and Commerce.

Total investment and registered capital reached $638 million and $253 million, increasing 43-fold and 19-fold, respectively.

The increases are the result of the release of favorable policies for capital registration system.

Seven out of the 17 companies registered capital of more than $20 million and invested $597.6 million, accounting 93.65 percent of the total.

An official from the administration said starting new projects in new materials and energy is also a main reason for the investment increase.