Coordinated growth
Regarding the coordinated development of the Yangtze River Delta region, which was elevated to a national strategy in November 2018, the competitive edge of advanced manufacturing industries has ensured that Xinwu can play an important role in the strategy, Jiang said.
While there are concerns saying cities in the Yangtze River Delta region may share some commonality in terms of industrial mapping, differentiated focuses and routes, companies' expansion plans, which are already in place, are the best way to dispel the doubts, she said.
UK pharmaceutical company AstraZeneca, which set up its China headquarters in Shanghai, has built a supply base and a logistics center in Wuxi. Hangzhou-headquartered leading video surveillance company Hikvision announced in late 2016 that it is to build in Xinwu a 3.9-square-kilometer IoT town to apply the company's IoT technologies in real-case scenarios.
When it comes to technological innovation, which is the major driver of companies' sustained growth, different places have shouldered different responsibilities.
For fundamental scientific research, Shanghai is irreplaceable given its huge appeal to international researchers. But some companies have put certain technology R&D functions in Xinwu to be closer to their production bases.
"The industrial chains will automatically look for what they need. The base rule is to trust companies' choices," Jiang said.
While China has adopted the dual circulation development pattern, in which domestic and international demands complement each other, Xinwu has also attached great importance to exploring overseas markets.
"IoT companies, which are the highlight of Xinwu, have helped the deep integration of manufacturing and modern service industries," Jiang said. "By creating world-class smart manufacturing and innovation bases in the district, Xinwu-headquartered companies will be more competitive in the global market, which will form new driving forces of Xinwu's outbound economic growth."
At present, foreign-invested companies contribute more than 75 percent of Xinwu's total GDP. By the end of the third quarter, Xinwu had attracted 1,670 foreign-invested companies, nearly one-fourth of Wuxi's total number of foreign-funded companies. At least 64 Fortune 500 companies have invested in 123 projects in Xinwu, taking up 62.4 percent of the city's total.
