A delegation of European life science enterprises visits Wuxi National Hi-Tech District. [Photo/WeChat account: xinwu_wx]

A delegation of European life science enterprises, led by Tang Song, deputy director-general of the Investment Promotion Agency of the Ministry of Commerce, visited Wuxi National Hi-Tech District (WND) on May 29 to discuss expanding cooperation.

Cui Rongguo, Party secretary of the district, welcomed the delegation and highlighted WND's leading role in the city's opening-up and economic development. He noted that the district is home to over 1,800 foreign-invested enterprises, with Europe being a key source of investment. More than 170 European companies have registered in WND, including 27 projects backed by Fortune Global 500 companies.

Cui emphasized the growing concentration of multinational regional headquarters in WND, which now hosts 23 provincial-level foreign-invested headquarters and functional institutions, accounting for 46 percent of Wuxi's total.

Biomedicine, a pillar industry in WND, surpassed 100 billion yuan ($13.92 billion) in output value in 2024. The district hosts over 600 biomedicine companies and ranks 18th nationwide in overall competitiveness among biomedical industrial parks.

Cui expressed hope that the visit would mark a new starting point for continued friendly exchanges and expanded cooperation. WND, he added, will continue benchmarking against the highest international standards to become the most investor-supportive district for foreign businesses.

In August 2024, WND and the Investment Promotion Agency jointly established the WND (Frankfurt) Overseas Innovation Center in Frankfurt, Germany, to further promote investment cooperation with European companies.