Taihu Bay Sci-Tech Innovation City achieves remarkable development in H1

An internet of things industrial park in the Taihu Bay Sci-Tech Innovation City. [Photo/wifiwuxi.com]

In the first half of 2023, Taihu Bay Sci-Tech Innovation City in Xinwu district, Wuxi demonstrated major progress toward becoming a hub for technological advancement and economic growth.

Companies located within the innovation city achieved impressive overall taxable sales of over 70 billion yuan ($9.73 billion), while 12 significant technology projects, each with over 100 million yuan in investment, were introduced to the innovation city.

The area's service industry above a designated scale also made substantial gains in the first half of the year, amassing total business revenue of 13.26 billion yuan. The high-tech sector's industrial output accounted for 96.9 percent of the overall industrial production value in Xinwu district.

In the realm of technological innovation, Taihu Bay Sci-Tech Innovation City added 14 new national-level "little giant" small and medium-sized enterprises and 14 municipal-level corporate technology centers. Furthermore, the city witnessed a surge in patents, with 341 new invention patents granted.

The innovation city also continued to drive innovation through various platforms. For example, the National Market Supervision Technology Innovation Center for Special Foods has been put into use and already features two testing facilities.

A series of influential forums held in the area, including the inaugural China Silicon Photonics Conference and Taihu Bay Silicon Photonics Industry Innovation Center Construction Conference, and the 10th IEEE International Symposium on Next-Generation Electronics, have also contributed to the growth of various industries.