The city of Wuxi, Jiangsu province, officially launched 136 major large-scale construction projects on Feb 12.
The declaration was part of a wider initiative across 13 different Jiangsu province cities in which a total of 1363 projects with an investment volume of 1.33 trillion yuan ($193 billion) were officially kick started.
The 136 projects that are now underway in Wuxi are worth 158.6 billion yuan ($23 billion). This sets new records both in terms of the number of projects launched and the volume of annual investment started in the city.
The move once again announces the city of Wuxi as an industrial hub in the south Yangtze River Delta. The newly launched 105 industrial projects will require an investment volume of more than 117 billion yuan, which accounts for nearly three quarters of all the projects. It is intended that the investment will further catalyze industrial development.
 |
|
Li Xiaomin (mid), Party secretary of Wuxi, speaks at the groundbreaking ceremony of the city's 136 major projects. [Photo provided to China Daily] |
At the groundbreaking ceremony hosted by Wuxi's mayor Wang Quan, Wuxi's highest official, Li Xiaomin, announced the launch of all 136 projects, which he said would play a critical role in driving the city's economic development and help to upgrade many of the city's industries.
Amidst the vast number of highly diverse projects, the High-end Processing and Manufacturing Center of China Ship Ocean Exploration Technology Industrial Park is arguably the most eye-catching and significant.
The project came to fruition in 2015 through the cooperation of the local Wuxi government and China State Shipbuilding Corporation, a company aimed at fostering a strong state-level marine economic cluster in Wuxi. This project will include developing military vessels and conducting underwater robot R&D. Upon completion estimates suggest the project will yield an annual profit revenue of more than 3 billion yuan.
 |
|
Officials listen to the speech of Wuxi's Party secretary Li Xiaomin at the groundbreaking ceremony of the city's 136 major projects. [Photo/wxrb.com] |
Jiangyin, a county-level city in Wuxi, has 40 projects that will bring 22 billion yuan worth in industrial development, urban construction, and social benefits. One highlight is a 3D integrated chip project scheduled to be completed in 2022. The project has an estimated yielded revenue of $1 billion.
Jiangyin's counterpart city Yixing rolled out projects worth 5 billion yuan in investment. Significantly, its airplane manufacturing project will produce 48 amphibious aircrafts every year.
Other Wuxi districts including Liangxi, Xishan, Huishan, Binhu and Xinwu district also unveiled major projects on Feb 12.
 |
|
The city of Wuxi in Jiangsu province officially begins the large-scale construction of 136 major projects worth $23 billion investment on Feb 12. [Photo provided to China Daily] |
