The WRSA Overseas Returnees Town, the first of its kind in Jiangsu, was put into service in the Wuxi Economic Development District, Wuxi, on Sept 13.
Covering an area of 970 mu, or 64.67 hectares, the town is divided into a startup zone, core zone, and radiation zone. The 170-mu startup zone houses 13 buildings with a floor area of more than 200,000 square meters.
The returnees town is expected to become an important platform for returnee experts of the Western Returned Scholars Association to gather intellectual resources and inspire innovation as well as to attract high-level returnees and industrial projects in a bid to promote the development of the internet of things industry in the WEDD and Wuxi.
By 2025, the WRSA Overseas Returnees Town will be home to over 200 returnees' enterprises and its IoT industry will have a value of 50 billion yuan ($6.87 billion).
Wuxi's new landmark of IoT industry, the WEDD boasts a solid industrial foundation and has housed more than 100 IoT businesses. In the first five months of this year, the increase rate of the operating revenue of the WEDD's IoT and software and information technology service industries was ranked first in the city.
Why did WRSA open its returnees town in Wuxi?
The operating revenue of the IoT industry in the city exceeded 400 billion yuan in 2022, accounting for nearly 50 percent of the province's total and as of last year, the city housed over 3,000 IoT businesses which were granted a combined 2,000 invention patents per year.
In addition, the city has built more than 20,000 5G stations and its IoT funds are worth over 60 billion yuan, ranking first in China.
