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Innovation, exploration at the heart of Xinwu's success

(China Daily)Updated: 2021-06-24

'All-around champion'

According to Jiang, the unexpected COVID-19 pandemic, which has hit the world hard this year, has also worked as a test of the quality of an area's outbound economy.

During the past few months of the year, Italian heating systems provider Ariston Thermo Group has transferred orders received at its headquarters to its Wuxi plant, which resumed operation in February.

The same practice has also been adopted by South Korean chip maker SK hynix, as its highly automated production base in Xinwu has not stopped for a single day during the pandemic.

The city government has high hopes for Xinwu. During a meeting in late May, Wuxi's Parly secretary Huang Qin said the district should strive to become "an all-around champion" in terms of Wuxi's high-quality development, enhancing the industrial capacity and further optimizing the industrial structure in Xinwu.

To meet such goals, specific targets have been set.

According to the district's committee, Xinwu's annual GDP growth is projected to remain at around 6 to 7 percent during the 14th Five-Year Plan (2021-25) period, while fixed-asset investment is expected to increase 6 percent every year during the same period. The district's R&D investment will reach 4 percent of the total GDP volume in the next five years while the total retail sales of consumer goods will grow by up to 9 percent annually.

But goals will not be met in haste. Jiang said the creation of a friendly, efficient business environment comes first.

Land or government subsidies are not the best ways to solicit companies, because these are only one-time policies. To create ecosystems for various industries is a top priority on the government work agenda so companies can seek long-term development in Xinwu, she said.

"We need to trust the market and companies, judgment. Companies throughout the industrial chain will recommend to each other the most appropriate high-tech parks with an adequate supply of high-caliber human resources and supporting industries," Jiang said. "The government only needs to provide the best business environment and let the market make the decision naturally."

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