Wuxi
Wuxi and its commercial real estate market are unique in many respects. Did you know…
- Wuxi is an old city in Jiangsu province, People’s Republic of China. Split in half by Lake Tai, Wuxi borders Changzhou to the west and Suzhou to the east.
- Wuxi earned its nickname “Pearl of Lake Tai” because it’s built on the shore of Lake Tai in a scenic setting. Wuxi was also dubbed “little Shanghai” because of its close proximity to the city, rapid urbanization and booming economy. Wuxi also has a history of business people involved in modern Shanghai commerce since the early 20th century.
- Currently Wuxi is designated as an investment grade city, and has two large industrial parks devoted to new industries. Although the current manufacturing centers on textiles, there are plans to move to electric motor manufacturing and MRP software development. Wuxi is the solar technology hub in China as two major photovoltaic companies are based in the city.
- Since it was established in 1992, Wuxi New District (WND) has evolved to be one of the major industrial parks in China. Approximately 1200 enterprises have been registered in WND by the end of 2008. Wuxi New District provides strong support for international manufacturing operations.
- In 2008 new energy industries were worth 37.8 Billion RMB, with the solar photovoltaic industry accounting for 30.2 Billion RMB of the total. The GDP per capita was ¥81,151 (US$11,885) in 2009, ranked second in Jiangsu Province, less than Suzhou but more than the capital city Nanjing.
For more information, contact:
Patrick Moultrup
Phone: +1 (408) 402-5270
Email: pmoultrup@itraglobal.com
