A rendering of the Grand Canal-themed ancient town in Xushuguan, Suzhou New District. [Photo/WeChat account: snd-szgxqfb]
Xushuguan Economic and Technological Development Zone in Suzhou New District recently saw a group of 35 projects, worth 11.28 billion yuan ($1.77 billion) in investment, signed or started construction, local media outlets reported.
The projects, which cover emerging industries like biological medicine, high-end equipment manufacturing, and new-generation information technology, will help promote the zone's industrial transformation and upgrading, enhance its independent innovation capability, as well as support SND achieve high-quality development.
Here are some highlights of the projects.
The Xushuguan ancient town project, which aims to protect the time-honored Grand Canal in an innovative way, will gain investment totaling 5 billion yuan and create more than 8,000 jobs. Once completed, the ancient town is expected to become a calling card of the canal's culture and tourism features.
World leading innovative ophthalmic medicine company Cloudbreak Therapeutics will invest 500 million yuan to build its regional headquarters in Suzhou New District. The company has worked on developing a dozen new ophthalmic drugs, which are expected to generate sales revenue of 1 billion yuan and higher once reaching the design capacity.
In the high-end equipment manufacturing sector, Taiwan-based Eternal Materials Co will invest an additional 1.1 billion yuan for the second phase construction of its electronic equipment plant in Suzhou New District. The project is expected to generate 1 billion yuan in revenue once reaching design capacity.
