Wuxi deepens economic cooperation with Singapore

Wuxi Mayor Huang Qin led an economic and trade delegation to Singapore to deepen cooperation between the two places on May 6-8.

During a conference held on May 7, Huang gave a brief introduction to East China's Wuxi city and invited enterprises in Singapore to invest there. Zhang Xumin from the Embassy of China in Singapore was also in attendance.

According to Huang, Wuxi city has long kept friendly cooperative ties with Singapore, with the country building its first Chinese industrial park, the Wuxi-Singapore Industrial Park, in Wuxi National Hi-tech District in 1993.

Wuxi will continue to strengthen the construction of its business environment and give full support to Singaporean enterprises looking to invest, said Huang.

Under the Belt and Road Initiative, the two sides hope to mutually benefit from the relationship and achieve comprehensive cooperation on intelligent manufacturing, internet of things, new energy, biomedicine and the modern service industry.

Over 200 foreign companies attended the conference and gave a positive response. A total of six projects were signed during the visit, amounting to $1.335 billion.

The Wuxi delegation also visited a number of companies during the visit, including the semiconductor producer Infineon Technologies AG, who has signed to invest $500 million to expand its plants in Wuxi and make it the group's most important smart production base.