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Wuxi: Economy, Sectors and Industrial Parks

By EU SME Centre | Article      09.03.2016     Tags: Automobiles and autoparts, ICT (Technology and Telecoms), Machinery equipment and components, ... (7 more) (hide)

Wuxi is located in Jiangsu Province in Southeast China with a population of 6.5 million. In 2015, the city reported a GDP of CNY 851.83 billion with 7.1% year-to-year growth, ranking the third within the Province and 14th in the country.

Located in the Yangtze River Delta, it takes 28 minutes from Wuxi to Shanghai by high-speed railway and five hours from Wuxi to Beijing.

It has one international airport Sunan Shuofang International Airport (苏南硕放国际机场) that offers direct flights to other major Asian cities such as Tokyo, Osaka, Seoul and Singapore.

The Jiangyin Port (江苏江阴港) has a number of shipping lines to Hong Kong, Singapore and Pusan in South Korea.

Wuxi has two metro lines in operation and plans are under way to build another three. 

Below is an overview of Wuxi’s major sectors and industrial parks.

High-end Equipment Manufacturing

The government reported that Wuxi has over 2,300 companies in equipment manufacturing and 1,000 companies in automotive parts manufacturing.

Featured Parks: Wuxi Airport Industrial Park, Wuxi Aviation Power Sci-Tech Industrial Park

Micro-electronics

The Wuxi government reported that the city’s micro-electronics industry accounts for 25% of the total industrial volume of the country. Here is a list of major companies of this sector that operate in Wuxi: 

Integrated Circuit (IC) design: Wuxi China Resources Semico, Wuxi Meixin Semiconductor, China Key System & Integrated Circuit, China Electronics Technology Group Corporation No. 58 Institute.

Wafer fabrication: SK Hynix Semi-conductors, China Resources Micro-electronics.

Packaging & Testing: Hitech Semiconductor, Infineon Technologies, Wuxi China Resources Micro-Assembly Technology, Changjiang Elec. Tech. (Jiangsu Xinchao Group).

Accessory Support: Wuxi Zhongwei Mask Electronic.

Featured Parks: Wuxi National Integrated Circuit Design Industrialization Center (WXICC), National Integrated Circuit (Wuxi) Design Center, Changjiang Elec. Tech. Integrated Circuit Packaging & Testing Innovation Industrial Park.

Energy Saving and Environmental Protection

Wuxi is one of China’s important photovoltaic industrial bases and National Innovation Base of Accelerating Trade with New Energy Technology, which has attracted industry leaders such as Hareon, Guodian and Konca. 

It is also the industrial cluster of smart wind power engine manufacturers, represented by ENVISION, Jixin Wind Energy Technology and Miracle Win-power Components.

Currently, it has over 1,500 companies in new energy and environment businesses, ranging from waste water treatment, solid discards to exhaust gas.

Featured Parks: Yixing Industrial Park for Environmental Science & Technology (the Only state level industrial park in this field), New Energy Industrial Park in Yixing Economic Development Zone, New Energy Industrial Park in Jiangyin New Harbor City, Wuxi Wind Power Technology Park, Wuxi Photovoltaic Industrial Park.

Biotech and Pharmaceuticals

There are about 500 biotech and pharmaceutical companies operating in Wuxi including AstraZeneca, Nutricia and Pfizer. 

Returned overseas Chinese scientists have also set up companies in Wuxi in monoclonal antibody, protein pharmaceuticals and small molecule drugs, such as Wuxi AppTec, OriGene and Boya Life. 

Featured Parks: Life Science Industrial Park in Wuxi New District (Si-Park), Jiangsu Wuxi Huishan Life Sicence & Technology Park (L-Park), Wuxi Mashan National Life Science Park (Bio-Park).

Internet of Things & Cloud Computing

As the national industry base of the Internet of Things (IoT) and the national innovation demonstration area of sensor networks approved by the State Council, Wuxi has companies operating in fields of sensing technology, network communication, processing application and key generic technology. 

Among them, the cluster of smart sensing systems is acknowledged as the first of its kind in China and the only one in Jiangsu Province. 

Wuxi focuses on building a demonstrative application base for City Cloud Computing Center, which will provide various cloud computing services for the applications of the IoT industry.

Software & Service Outsourcing

Wuxi is one of China’s Service Outsourcing Demonstration Cities and Global Offshore Service Outsourcing Safest Cities. It has established 15 featured parks, attracting leading companies like Microsofr, IBM and Oracle.

Featured Parks: Wuxi National Software Park (iPark), Shanshui City Science & Education Industrial Park (K-Park), Huishan Software Outsourcing Park (P-Park).

Financial Services

According to the government, Wuxi is the first prefecture-level city in China with a complete financial platform of all licenses. In 2013, it was approved as a Commercial Factoring Pilot City in South Jiangsu Modernization Demonstration Zone.

Seven international banks now have branches in Wuxi, including MIZUHO Bank, UFJ Bank, Shinhan Bank, NCB, Citi Bank, HSBC and BEA.

Contact 

To find out more about Wuxi’s business and investment policies, contact:

Mr Darren Shao, Chief Representative of Wuxi Investment Bureau Branch Office in Beijing 

darren_shao@wxipb.gov.cn

www.investinwuxi.com


The information in the article was provided by Wuxi Investment Bureau Branch Office in Beijing.

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