Jiang Min, vice-mayor of Wuxi and Party secretary of the city's Xinwu district. [Photo/China Daily]
Wuxi's foremost high-tech district growing strong despite pandemic headwinds
As Xinwu district's Party secretary Jiang Min understands, innovation and exploration best define the four-year-old tech-focused district located in the southeastern part of Wuxi, Jiangsu province.
Covering some 220 kilometers, Xinwu district was established in February 2016 alter the Stale Council's approval for Wuxi's district jurisdiction adjustment.
Formerly known as the Wuxi National High-Itch District, approved by the State Council in 1992, Xinwu has worked as the city's leader in the development of key industries such as the internet of things, integrated circuits, biopharmaceuticals, new energy and high-end equipment.
According to statistics provided by Xinwu's development and reform commission, the district's total fixed asset investment increased 10.9 percent year-on-year to 48.1 billion yuan ($7.1 billion) in the first eight months of 2020, reporting the fastest growth in Wuxi and significantly offsetting the negative impact of the outbreak of COVID-19.
Companies hold a positive outlook on Xinwu despite the uncertainties brought by the epidemic, according to the local government.
During the first eight months, Xinwu attracted 796 new projects with total investment surging 28.4 percent year-on-year to top 62 billion yuan. The number of newly registered foreign-invested companies reached 69 during the eight-month period, up 9.52 percent from the same period in 2019.
The strong resilience that Xinwu has demonstrated during the pandemic has validated the industrial mapping of the district over the past four years, exploring emerging industries and stressing the district's research and development capacity, said Jiang, who is also a vice-mayor of Wuxi.
"We have seen many industries start from scratch over the past few years. We have also seen many more expand or optimize their industrial structure," she said. "The key is to make Xinwu a cradle for emerging industries."
Clusters of emerging industries have already taken shape in Xinwu, playing a dominant role in the development of key industries.
By the first half of 2020, about 70 percent of Wuxi's new-age information technology companies, best represented by IoT technology providers, are located in Xinwu. Up to 60 percent of Wuxi's biomedicine companies are based in Xinwu, and more than 52 percent of the car parts makers are operating in the technology-focused district.