The Chinese-French (Wuxi) Industrial Cooperation Park is launched in Wuxi. [Photo/Wuxi Daily]
The Chinese-French (Wuxi) Industrial Cooperation Park opened in Wuxi New District, Wuxi, East China's Jiangsu province, on July 18.
It is the first Chinese-French Cooperation Demonstration Park in China, promoted by the National Development and Reform Commission and the Consulate General of France and licensed by the French Chamber of Commerce and Industry in China.
Representatives from WND and Aden Group ink a cooperation agreement. [Photo/Wuxi Daily]
Projects in the core area of the park have a planned investment of $500 million and will be constructed and operated by the French Aden Group.
The first phase is an intelligent manufacturing industrialization base, which is expected to start operating by the end of 2024. The second phase will include a Chinese-French Innovation Center, commercial offices, French hotels, and international apartments, which will be put into use in 2025.
Wuxi also secured projects with a combined investment of $1 billion yuan on the same day, including the $150-million green and intelligent industrial park by Schneider Electric and $200-million low-voltage apparatus industrial park by Legrand Group.
Wuxi has maintained friendly exchanges with France over the years, and in 2007 the city established a friendly city relationship with Nimes in France.
Leading French companies such as Danone, Faurecia, Valeo, Schneider, and Legrand have increased investment in Wuxi, while Wuxi businesses have set up 14 production bases and R&D centers in France.
Last year, Wuxi's exports to France expanded by 8.7 percent, significantly higher than the city's overall export growth.
