Hongshan sees new investment in modern technology sector

A signing ceremony for technology project is held in the Hongshan neighborhood in WND on Nov 30. [Photo/WeChat account: xinwu_wx]

Agreements for seven "specialized, fined, peculiar and innovative" technology projects were signed and started construction in Hongshan sub-district, Xinwu district, Wuxi on Nov 30.

With total investment exceeding 1 billion yuan (156.98 billion), the seven projects were all modern technology projects related to biomedicine, internet of things, big data and new materials.

Among them, two modern scientific research institutes, the Wuxi R&D Center of the Shenyang Institute of Automation and the Chinese Academy of Sciences and the Hongshan Intelligent Manufacturing Industry Engineering Institute, are expected to bring in over 2 billion yuan in annual sales.

The ceremony also marked the opening of Cutia Therapeutics's Wuxi factory. Cutia Therapeutics, headquartered in Shanghai, works in the research, development and production of dermatological drugs.

Officials said that Hongshan sub-district will offer its full support to these new projects and improve its business environment to attract more sci-tech projects.