Wuxi Taihu Bay (CFP Photo)

Wuxi Economic Development Zone released an action plan to promote the Taihu Bay Science and Technology Innovation Belt initiative on April 8, when a number of cooperative projects were also unveiled.

The action plan’s ten measures include setting up a special fund of 10 billion yuan for developing the innovation belt during the 14th Five-Year Plan period, providing up to 500 million yuan to major tech innovation platforms or new type of research agencies, and up to 50 million yuan to leading talent or teams. The zone will also provide strong support for construction of major S&T platforms, incubation of new industries, talent attraction, and development of Fintech.

Yang Jianping, Deputy Director of Wuxi Economic Development Zone Management Committee, said the zone’s overall layout will consist of IoT-centered Xuelang Town, intelligent manufacturing zone, national sensor network park, digital industry park, tech start-up park, and cultural industry and exhibition park. The aim is to create a new pattern of high-quality development that features sound ecological and environmental protection, thriving innovation, emerging industries and high-end talents.

April 8 also saw the signing of agreement with several institutions, such as Graduate School of Fudan University, Tsinghua University’s Institute of Internet Industry, Shanghai Theatre Academy and Shanghai Jiao Tong University. The Bosch Industry 4.0 Innovation Technology Center and AI CITY Innovation Empowerment Centre will also be established in the zone, according to plans. In the service sector, a new hotel and hospital will settle in the zone.