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Xinwu district plans for high-quality development

Updated : 2018-06-13
(chinadaily.com.cn)

Xinwu district plans for high-quality development

A press conference is held in Wuxi Xinwu district on June 12, outlining the district's economic development in the next three years. [Photo provided to chinadaily.com.cn]

Wuxi Xinwu district announced specific plans and targets in regards to the industry, opening-up and technological innovation for high-quality development in the following three years (2018-2020) at a press conference on June 12.

Hong Yanwei, deputy secretary of the district's party committee, Hu Yi, deputy district mayor, Wu Yi, director of the district's economic development bureau, Gui Tao, director of the district's science, technology and information bureau and Wang Xinhua, director of the district's commerce and tourism bureau attended the conference.

Hong Yanwei emphasized the equal importance and complementary effects of industry, opening-up and technological innovation, so as to expand the district's globalization.

Besides manufacturing, integrated circuit and Internet areas which have seen positive results in the district, the three-year plan adds the focus in new energy, especially the development of single cell chargers and new energy autos parts which are believed to have great potential, said Hong Yanwei.

A single cell charger materials factory that received the investment of $1 billion from LG and Huayou Cobalt operated in Xinwu district in May. The project of the world's biggest factory of single cell chargers is under negotiation.

Xinwu district plans for high-quality development

Hong Yanwei, deputy secretary of the district's party committee speaks at the conference on June 12. [Photo provided to chinadaily.com.cn]

Thanks to China's reform and opening-up, Xinwu district has achieved great progress over the past 20 years, said Wang Xinhua at the conference. He noted that Xinwu district has annually attracted more than $1.2 billion foreign direct investment in the last three years, leading Jiangsu province. In the next three years, it will take the full advantage of foreign capitals for the district's high-quality development supported by the Belt and Road Initiative.

The government will take positive measures to realize the three-year opening-up target with total foreign direct investment of $4 billion. The number of Fortune 500 that establish sales and technological centers in the district will be doubled. The sales center of SK Hynix and AstraZeneca’s and Bosch’s technological centers have been launched.

Over 100 foreign technological enterprises will be attracted to the district, accounting for 20 percent of all technological enterprises, especially in sectors of life sciences, new energy, new materials, finance and services.

The supplementary plan of industrial and urban integration in the district is underway and more preferential policies for foreign enterprises will soon be rolled out.

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