Wuxi, a city in eastern China’s Jiangsu Province, witnessed the signing of fourteen European industrial projects on Wednesday, November 8, 2023. These projects, with a combined investment of nearly two billion euros (approximately 2.13 billion U.S. dollars), were formalized at the 2023 China-EU (Wuxi) Industrial Innovation and Cooperation Conference.
The projects encompass a diverse range of industries, including the Internet of Things, high-end equipment, and auto parts. Once completed, these projects are projected to generate an annual output of 35 billion yuan (approximately 4.8 billion U.S. dollars), contributing significantly to the local economy.
A significant highlight of the conference was the inauguration of the China-EU industrial innovation zone. Situated within the Wuxi National High-tech District, this 24.5 square kilometer zone aims to attract over 100 projects from European multinational corporations by the end of 2025.
The conference also unveiled three new centers: the EU Project Innovation Center (Wuxi), the China-EU Vaccine Research and Industry Collaboration Center, and the Fraunhofer Sino-German (Wuxi) Innovation Center. These centers will play a crucial role in fostering collaboration between Chinese and European businesses and researchers.
Currently, 166 European companies have invested a total of 15 billion euros in the Wuxi National High-tech District. In 2022 alone, these companies generated sales revenue exceeding 118 billion yuan. These figures underscore the strong economic ties between Wuxi and European businesses.
