A launch ceremony for the Chinese-French (Wuxi) Industrial Cooperation Park is held in Wuxi. [Photo/WeChat account: xinwu_wx]
The Chinese-French (Wuxi) Industrial Cooperation Park, which is promoted by China's National Development and Reform Commission and the Consulate General of France in Shanghai, was unveiled in the Wuxi National Hi-tech District, Jiangsu province on July 18.
The first "Chinese-French Cooperation Demonstration Park" authorized by the French Chamber of Commerce and Industry in China, the park will be constructed and managed by France's Aden Group with $500 million in investment.
Construction of the first phase, which features a smart manufacturing base, is scheduled to commence in August and be completed by the end of 2024. The second phase, including an innovation center, office buildings, French hotels, and international apartments, is set to begin construction in June 2024 and start operating in June 2025.
Agreements for five projects with a total investment exceeding $1 billion were signed that same day. Among them is a $150-million gigafactory of Schneider Electric, a $200-million low-voltage manufacturing center of Legrand Group, and a $100-million specialty gas production base of Air Liquide.
Du Xiaogang, Party secretary of Wuxi, said Wuxi and France enjoy a longstanding friendship and Wuxi has been actively promoting exchanges and cooperation with France in various fields. French investments in Wuxi have amounted to $674 million, while Wuxi enterprises have invested $95.2 million in France.
Joan Valadou, consul general of France in Shanghai, expressed hope that both sides will help accelerate the construction of the industrial park and facilitate cooperation between local and French companies in areas such as construction, environmental engineering, and renewable energy.
Cui Rongguo, secretary of the Party working committee of the Wuxi National Hi-tech District, said the district is the most competitive hub in the Yangtze River Delta region for industries, innovation, and opening-up. The district will provide more targeted policies and better services to bolster foreign enterprises' development.