A total of 238 major industrial projects to be undertaken in Wuxi are launched at a ceremony on Feb 26. [Photo/WeChat account: wuxifabu2013]
A total of 238 major industrial projects receiving 172.34 billion yuan ($26.64 billion) in investment will be undertaken in 2021 in Wuxi, East China's Jiangsu province, according to a launch ceremony held on Feb 26.
The projects are a part of Wuxi's efforts to upgrade its industrial structure and establish a modern industrial system.
The number of projects in the city increased by 28.6 percent over 2020, while total investment grew by 47.7 percent.
A total of 57.84 billion yuan is expected to be invested into all 238 projects in 2021, with more investment coming in the following years.
Fifty-one of the projects will receive over 1 billion yuan in investment and mainly focus on innovation, strategic-emerging industries, advanced manufacturing, and the modern service industry.
The ceremony also marked the start of construction on Wuxi Lead Intelligent Equipment Co's electronic equipment and materials project.
The project, which received 1 billion yuan in investment, is expected to become a leading domestic semiconductor equipment and core component materials industry cluster.
Officials have said that during the 13th Five Year Plan period (2016-20), 450 major industrial projects receiving a combined 778.5 billion yuan in investment were undertaken in Wuxi. Among them, 232 are currently in operation and 33 are now worth over 5 billion yuan.
