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This leading economic hub in east China's Jiangsu Province is set to develop a liquid crystal display (LCD) industrial base in its high-tech zone.
The aim is for the base to reach output value of 70 billion yuan (US$8.63 billion) by the year 2008.
The ambition is based on the fact that a group of LCD companies, with the Japanese Sharp firm leading, already have LCD-manufacturing plants in the zone.
These LCD firms together enjoyed an output value of 15 billion yuan (US$1.85 billion) last year.
"The LCD sector will enjoy an advantageous position in the development of the city's electronic information industry," said top city official Yang Weize.
Sixteen LCD manufacturers have invested over US$300 million in the Wuxi National High-tech Industrial Development Zone. They include Wuxi Sharp Electronic Components Co Ltd, the Sharp Technical Components (Wuxi) Co Ltd and companies from the Republic of Korea and Taiwan.
Sharp is a leading global company in manufacturing LCDs, which are widely used in computer monitors, mobile phones, banking terminals and televisions.
Wuxi, about 130 kilometres west of Shanghai, is ideal for the development of an LCD industrial base, said Yang. He pointed out the city's strong research ability in microelectronics and the employment of many professional technicians.
The production of the LCD has close links with the microelectronics field, which already involves more than 20,000 professionals in the city.
"What we are doing is creating a good environment for the growth of LCD plants, such as improving our facilities to reduce costs and allow professionals to enjoy their work in the city," said Yang, secretary of the Wuxi Municiple Party Committee.
He made the remarks on the sideline of the 2005 Lake Taihu International Business Festival, which kicked off on Saturday and will continue until the end of the month. It provides a venue for officials and experts to explore ways of developing an LCD industrial base as well as the city's service industry.
Wuxi has good transportation links with Shanghai. Yang said there are both benefits and challenges from being near the metropolis.
He predicted that against the background of globalization, Wuxi will have more interaction with Shanghai. "When Shanghai sneezes, Wuxi will catch cold," he said.
Wuxi is now devoted to pushing the growth of the modern service industry, which has an increasing share of the economy.
Elton Huang, a partner at Pricewaterhouse Coopers China, said the Yangtze River Delta, which includes Shanghai as well as cities like Wuxi, has a lot of potential for the service industry, such as consulting.
International experience shows that the service industry will witness rapid growth when the per capita gross domestic product (GDP) is between US$1,000-3,000, according to Huang. The per capita GDP of Wuxi reached US$6,400 last year, which provides favourable conditions for the quick growth of the consulting industry, said Huang.
"The airport, international trade, logistic services and consulting, which all belong to the modern service industry, will see big development opportunities in Wuxi and they are also expected to give supplementary support to Shanghai," added Yang.
(China Daily September 13, 2005)
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