The first phase of the Sino-German (Taicang) Industrial Park has been completed, with 18 workshops finished and the greening work progressing as planned.

With an area of 1 square kilometer and investments of 10 billion yuan ($1.62 billion), the industrial park aims to attract small and medium-sized enterprises, focusing on advanced equipment manufacturing, auto parts, biomedical and new energy industries.

The park is also expected to establish a bridge for communication and exchange of technologies between Chinese and German companies.

So far, eight Germany-based enterprises, including FTE automotive (Taicang) Co, have confirmed their investment.