Xinhua Silk Road: Jiangsu Kunshan accelerates development of emerging industries with investment of nearly RMB100 bln

BEIJING, Nov. 17, 2021 /PRNewswire/ -- 98 emerging industry projects involving a total investment of 98.06 billion yuan were recently  signed and settled in the city of Kunshan in east China's Jiangsu Province, showing the surging momentum of Kunshan's industrial innovation and transformation.

The emerging industry projects signed cover a wide range including advanced computing, artificial intelligence, intelligent manufacturing, aerospace, biomedicine, new materials and other emerging industry fields.

As China's first county-level city with an industrial output value of over one trillion yuan, Kunshan topped the ranking of China's Top 100 County-Level Cities by comprehensive strength for 17 consecutive years.

Kunshan is now vigorously developing emerging industries, focusing on new display, new intellectual manufacturing, new medical, new energy, new materials and new digital, and accelerating the construction of a modern industrial system.

The city has attracted many famous enterprises to invest here. Located in the Kunshan Economic and Technological Development Zone, Td Automotive Compressor (Kunshan) Co., Ltd. (TACK), a company producing the Toyota Denso air conditioning compressor, has invested 77 million U.S. dollars in Kunshan. The company placed the group's first new energy vehicle air conditioning compressor project in Kunshan because of the obvious advantages of the city's location, the supporting policies and also excellent business environment, according to Fujii Akira, the general manager of TACK.

The development of emerging industries cannot be separated from a high-quality industrial ecology. Kunshan launched a total of 10 billion yuan of industrial development investment fund, focusing on high-quality enterprises of leading industries, emerging industries and other areas, also with the emerging industry cooperation institution established.

In the future, Kunshan will focus on the development direction of emerging industries, comprehensively improve the total amount, quality and innovation capacity of emerging industries in Kunshan, making every effort to build a highland of emerging industries with global competitive advantages.

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SOURCE Xinhua Silk Road