Wuxi to foster new productive forces

A bird's-eye view of Wuxi. [Photo/Wuxi Daily]

Wuxi in Jiangsu aims to lead the province in developing new productive forces according to its particular conditions, local media outlets reported on March 7.

The city will construct a modern industrial system backed by advanced manufacturing industry. This year, it will house an additional 1,500 high-tech businesses, 20 labs at the municipal level or above, and accumulate technical contracts valued at a total of 60 billion yuan ($8.34 billion).

An intelligent workshop in Wuxi. [Photo/Wuxi Daily]

Wuxi will also continue upgrading traditional industries, expanding emerging industries, and cultivating future industries. The city's landmark industry integrated circuit, for example, now faces numerous challenges. With the emergence of AI and other complex commercial activities, local businesses must continue to increase investments in R&D to develop relevant cutting-edge products.

A bird's-eye view of Wuxi. [Photo/Wuxi Daily]

The industrial and commercial city aims to spur the innovation power of business entities within a buoyant market. Local authorities  are committed to offering private companies the best business environment with the implementation of favorable measures.