105 projects inked, $11b in investment

A total of 105 key projects worth 71.2 billion yuan ($11 billion) were either signed or began operating in Suzhou New District on Feb 20.

The projects involved emerging industries such as new-generation information technology, high-end equipment manufacturing, bio-pharmaceuticals, energy conservation, and environmental protection.

A total of 57 projects receiving 26 billion yuan in investment were signed, 14 of which received a combined $2.14 billion in foreign investment.

Lexy, a leading home appliance manufacturer based in the district, was one of the investors. It is planning to invest 1.35 billion yuan into the construction of a new plant for new energy vehicles, 5G telecommunication devices, and key parts for industrial automation. The plant is expected to generate 1.5 billion yuan in annual revenue and 150 million yuan in tax revenue.

A total of 48 projects with 45.2 billion yuan in investment started operating that same day, including 40 industrial projects, two innovative platforms, and six pieces of infrastructure to improve people's living standards. Twenty-two of the projects received over 500 million yuan and 15 received at least 1 billion yuan in investment.

In addition, AKM Electronics Technology launched its second phase of construction with 700 million yuan in investment. It will cover an area of 70,000 square meters and be used for high-end equipment and the manufacturing of integrated circuit products. The project is expected to generate at least 1.5 billion yuan in annual revenue once it reaches full capacity.

Representatives of the projects said they are confident in the district's business environment and have gained solid support from governments at all levels. They expressed a desire to contribute more to the local economy.