2024 marks the twenty first anniversary of building a complete strategic partnership between China and Europe, China-EU relations are exhibiting good momentum of consolidation and improvement. China appears ahead to the EU turning into a key accomplice in pursuing Chinese language modernization, sharing alternatives in its huge market, institutional opening-up, and deepening worldwide collaboration.
Wuxi, a core metropolis within the Yangtze River Delta city agglomeration, has attracted investments from European firms comparable to AstraZeneca, Bosch, and Siemens since China’s coastal opening up. The town has opened up China-Europe freight practice companies and direct cargo routes to Europe, fostering deepening financial and commerce cooperation—Wuxi Excessive-tech Zone, situated within the hinterland of the Yangtze River Delta with handy transportation hyperlinks. Since turning into a nationwide high-tech zone in 1992, it has incubated a sturdy ecosystem of technological innovation, housing quite a few postdoctoral workstations, listed firms, and high-tech enterprises. Ranked 4th amongst China’s high 100 districts for high-quality improvement and 18th amongst 177 nationwide high-tech zones, Wuxi Excessive-tech Zone stands out as a beacon of development.
In November 2023, the Wuxi China-Europe Industrial Innovation Zone was formally launched.
As an open window for China-Europe cooperation, the China-Europe Industrial Innovation Zone goals to advertise high-level openness, serving as a platform for sharing alternatives globally, a bridge for deepening EU collaboration, and a forefront for innovation in China-Eu partnerships. By the tip of 2023, EU international locations states had invested in 166 initiatives within the Wuxi Excessive-tech Zone, with a complete funding of €15 billion. In 2023 alone, these initiatives generated gross sales income of RMB 118.23 billion and contributed RMB 8.18 billion in taxes.
Spanning a complete deliberate space of 24.5 sq. kilometers, the China-Europe Industrial Innovation Zone is located within the Meicun space of the Wuxi Excessive-tech Zone. The core space covers 7.7 sq. kilometers, with the preliminary improvement space alongside each side of Xinhua Street spanning 1.15 sq. kilometers. Anchored in Meicun Road, the zone goals to turn into a mannequin for China-Europe cooperation, offering a premium platform for the Wuxi Excessive-tech Zone and town of Wuxi to strengthen worldwide collaboration. The primary part of development has already reached the structural topping-off stage and is predicted to be accomplished by March 2025.
Constructing on Wuxi Excessive-tech Zone’s stable basis of worldwide industrial cooperation, the China-Europe Industrial Innovation Zone adheres to a philosophy of built-in improvement of science, trade, and urbanization. It’s actively growing 4 worldwide cooperation sub-parks: the China-Germany Worldwide Cooperation Industrial Park, the China-France Worldwide Cooperation Industrial Park, the China-Switzerland Worldwide Cooperation Industrial Park, and the China-Israel Worldwide Cooperation Industrial Park.
The China-Europe Industrial Innovation Zone targets an annual output worth of RMB 160 billion and tax income exceeding RMB 8 billion. It goals to draw at the least 30 European “hidden champion” enterprises, together with over 10 multinational firm headquarters. The zone will assemble greater than 500,000 sq. meters of innovation services and collectively set up at the least three European industrial expertise switch facilities. Efforts to draw main China-Europe cooperative initiatives are being intensified, with key EU-related initiatives comparable to Legrand, AML Programs, Schneider Electrical, Faurecia, and Siemens accelerating their presence within the zone. The long run focus will likely be on cutting-edge EU applied sciences and improvements, optimizing industrial construction and format to place the zone as a number one provincial-level financial improvement zone, Wuxi Excessive-tech Zone’s most well-liked industrial vacation spot, and a top-tier worldwide industrial cooperation zone famend throughout China and the Yangtze River Delta.
