Binhu district in Wuxi, East China's Jiangsu province announced new efforts to accelerate its digital transformation and the development of its digital economy at a conference held on March 4.

The value added of key digital industries in the district is expected to reach 30 billion yuan ($4.75 billion) and account for more than 14 percent of Binhu's gross regional product by 2024. In addition, all industrial companies above designated size are expected to complete their digital transformation by then.

Binhu is currently home to a number of industrial giants such as Jiangsu Maxscend Microelectronics Co, which has a market value of more than 100 billion yuan, unicorn company Huayun Data Group, Jiangsu Lanchuang Intelligent Technology Co, and Filmko Pictures Co. The 166 key companies involved in the digital economy and above designated size in the district are worth 22.6 billion yuan.

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