Binhu district to set up overseas investment promotion stations

Binhu district, Wuxi will set up its first batch of investment promotion stations in countries and regions around the world, according to an announcement by the district's industrial development conference on Feb 22.

Aimed at global high-end resources and first-class industrial projects, the first batch of investment promotion stations will be built in places such as London, Silicon Valley in the United States, Frankfurt in Germany, Seoul in South Korea, Tokyo in Japan, and Marche Regione in Italy.

Officials have said these cities are all strong in industrial development. Tokyo is a hub of upstream manufacturing, innovative activity, and high-end service industries such as new materials and high-end equipment. San Francisco was the first place to research and produce silicon-based semiconductor chips. Tourism is an important pillar of the local economy in Marche Regione. Seoul released a five-year plan for the development of a metaverse industry in November 2021.

Industrial parks focusing on different industries will be responsible for bringing in investment from each country, according to officials.

In addition, nine government leaders in Binhu district will serve as chief service commissioners for 12 key industries, including health, digital culture, and integrated circuits, in order to further integrate resources, build matchmaking platforms, and boost industrial development.