Wuxi secures $14b in projects

Wuxi in East China's Jiangsu province secured 38 industrial projects worth 93.47 billion yuan ($13.99 billion) at an online signing ceremony held on May 5.

These 38 projects involve strategic emerging, advanced manufacturing and modern service industries.

One of the projects in the first phase of the Weifu High-Technology New Energy Industrial Park, which will establish a joint venture with Bosch Group to specialize in the development and production of core hydrogen cell parts.

Eight of the projects each have received more than 5 billion yuan in investment.

A senior Wuxi official said at the signing ceremony that projects are an important driver of a city's economic development and he hopes that these entrepreneurs will expand their cooperation with Wuxi and bring more quality projects to the city.

In the first quarter of this year, Wuxi had 23 industrial projects with an investment of over 1 billion yuan on record, and as of the end of April the city had attracted 36 projects worth more than 1 billion yuan this year. These projects have received a combined investment of 145.17 billion yuan.