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WND sees steady growth in private economy

(chinadaily.com.cn)Updated: 2020-01-19

Private companies have shown their power in promoting economic development in Wuxi National Hi-tech District over the past year.

The revenue of private industrial enterprises above designated size (which refers to industrial enterprises with annual main business revenue of 20 million yuan or more) increased by 9.4 percent year-on-year to 97.1 billion yuan ($14 billion) in 2019, while profits amounted to 6.15 billion yuan, a yearly increase of 16 percent.

In 2019, 513 private companies signed on for projects in WND worth 35.4 billion yuan, a year-on-year increase of 12 percent.

Wuxi Lead Intelligent Equipment Co, marking its 20th anniversary in WND in 2019, announced that they will build an integrated circuit special equipment and core parts and materials industrial park in WND. It is expected to occupy 46.7 hectares.

Located in WND, CHISON Medical Technologies, one of the world's leading manufacturers of ultrasound systems, became the first company of its kind in Wuxi to be listed on the Shanghai Stock Exchange's sci-tech innovation board.

WND is now home to 525 private high-tech companies, accounting for 84 percent of the total companies in WND.

WND will continue to promote its business environment and financial support to attract more quality private companies in 2020, according to government officials in WND.

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