The government of Tong'an town signs cooperation agreements with two high tech companies on July 27. [Photo/WeChat account: snd-szgxqfb]
Two high-tech firms pledged a total of 520 million yuan ($76.6 million) worth of investment on new projects in Tong'an town, Suzhou New District on July 27.
Of the two firms, Suzhou iSilver Materials Co planned to invest 400 million yuan in developing new energy and new materials in the semiconductor industry.
The project launched by another company Shanghai Haoli Technology Co to produce cooling systems is worth 120 million yuan, which is expected to generate 250 million yuan in a year after being put into production.
In recent years, Tong'an town has actively promoted its companies to seek upgrading by technological innovation and improved its industrial structure.
Currently, the Suzhou town is home to more than 100 companies with annual output value of more than 10 million yuan, and industry gathering zones featuring intelligent manufacturing, electronic information, fine mechanics and new energy have taken shape in recent years.
In the future, Tong'an will organize a series of activities, such as elite forums and promotional conferences on the business climate, to showcase the town's profound culture and sound economic and social development, according to a leading official in the town.