New projects break ground in SND

The Suzhou New District held a groundbreaking ceremony for 53 major projects that will commence construction in the spring of 2023, local media reported on Feb 20.

The total investment for these projects will amount to 52.76 billion yuan ($7.62 billion), with industrial projects accounting for 94.3 percent and high-tech industry investments comprising 92.8 percent.

The projects are mainly related to photonics, medical equipment, and green, low-carbon technologies.

One of these projects is the International Innovation Community, the first international scientific and technological innovation carrier in the Taihu Lake Science City. The community will combine innovation and entrepreneurship with a comfortable urban lifestyle.

Meanwhile, the Baisheng Power Outboard Motor Project, which is funded by the private enterprise Suzhou Baisheng Power Machinery Co, will focus on the research and development and production of new electric and outboard motors.

Suzhou New District has designated this year as the "breakthrough year for investment promotion."

The district’s goals include achieving a 30 percent growth in the actual use of foreign capital, a 12.5 percent increase in the registered capital of domestic companies, a 25 percent increase in the registered capital of the service industry, as well as growing the number of companies by more than 20 percent.