A total of 34 projects receiving 11.59 billion yuan in investment are signed or start construction in Fengqiao sub-district, Suzhou New District, on March 27. [Photo/WeChat account: snd-szgxqfb]
A total of 34 projects receiving 11.59 billion yuan ($1.76 billion) in investment were signed or started construction in Fengqiao sub-district, Suzhou New District, on March 27, local media outlets reported.
Investments on single projects reached a new high as 10 projects received more than 300 million yuan in investment, five projects received at least 500 million yuan, and two projects received at least 1 billion yuan.
The projects involve biopharmaceuticals and medical devices, new-generation information technology, new energy, 5G optical communications, big data, and high-end equipment manufacturing.
That same day, Fengqiao sub-district awarded a total of 30 enterprises for their development, scientific innovation, and overall contributions last year.
The sub-district also signed an agreement with a local research institute to set up a center for regional digital innovation and intelligent transformation. The center aims to bring more intelligent progress to traditional local companies.
Fengqiao sub-district has a strong economy and is widely known for its industrial foundation, innovative resources, and friendly business environment. It led other areas in Suzhou New District in industrial investment and output last year.
In January and February, Fengqiao generated 809 million yuan in general public budget revenue, growing 33 percent year-on-year.
"We will continue to maintain our advantages and strive to realize more high-quality development through industrial transformation and independent innovation," said an official from Fengqiao.