The Wuxi-Singapore Industrial Park in Wuxi’s National Hi-tech District yielded an annual revenue of 51 billion yuan ($7.4 billion) contributed by its 80 foreign capital firms in 2016, a high profitability in the country considering its land coverage.
The remarkable achievement did not rely on an immoderate amount of land exploitation. Instead the park adopted a perfect solution for the contradiction between industrial development and a shortage of land resource – intensive development.
The park's Wuxi Murata Electronics Company has just completed the construction of its new R&D building for its electronic components. The 150 million dollar project, however, did not require a new piece of land.
"The new plant, with an area of 48,000 square meters, was built on the site of an old one which had been torn down." said Nomura Shinji, the company's president.
Since settling down in the park, he added, Murata Electronics has increased its investment volume from an initial $15 million to $560 million, while the land inventory has still remained the same as before.
The case demonstrates the park's strict standards of bringing in projects which take an overall consideration towards industrial policy, resource consumption, environmental impacts and performance output. The park encourages intensive and sustainable modes of development, such as hosting negotiations between firms in need of an investment increase or land expansion with those in possession of vacant land to maximize reasonable land utilization.
More than 20 years after its foundation, the Wuxi-Singapore Industrial Park has only made usage of a land area of 3.5 sq km2. Among the 25 famous high-tech industrial parks in Asia-Pacific, the industrial park has been listed as No 1 for three years in a row by the British Journal of Enterprise Evaluation in terms of its comprehensive investment environment.