Launch ceremony of Wuxi Singapore Science and Technology Innovation City. [Photo/Wuxi Daily]
This year marks the 30th anniversary of the establishment of the Wuxi Singapore Industrial Park in Wuxi New District, Wuxi, East China's Jiangsu province.
The industrial park was the first of its kind funded by Singapore in China. Last year, the output value of its industries above designated size was $12.8 billion with its industrial output per square kilometer approaching $3.6 billion.
Rendering of the Wuxi Singapore Science and Technology Innovation City. [Photo/Wuxi Daily]
The industrial park introduced a combined investment of over $15 billion, traded nearly $200 billion in imports and exports, and paid over 80 billion yuan ($11.22 billion) in taxes over the past three decades.
Five strategic and emerging industrial bases – integrated circuits, the internet of things, biological medicine, intelligent equipment, auto parts, and new energy – have formed in the park.
Wuxi New District lights up at night. [Photo/Wuxi Daily]
Due to those drivers, Wuxi's trade with Singapore and the amount of the city's foreign investment from the country account for 3.6 percent and 7.6 percent of the national totals respectively.
On Dec 18, Wuxi Singapore Science and Technology Innovation City was launched with 23 projects with a total investment of 46.4 billion yuan signing to enter the innovation city.
According to Cui Rongguo, Party secretary of WND, the innovation city plans to bring in more than 12 projects valued at over 10 billion yuan, utilize $10 billion of foreign capital, and nurture 30 enterprises with annual output exceeding 10 billion yuan by 2035.
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