The Wuxi National Hi-tech District's support for private enterprises has yielded fruitful results according to a report released on Jan 21. [Photo provided to chinadaily.com.cn]

The Wuxi National Hi-tech District's support for private enterprises has yielded fruitful results according to a report released on Jan 21.

The number of private enterprises in Wuxi National Hi-tech District reached 73,900 in 2018, a year-on-year increase of 15 percent. Just over 400 have annual income exceeding 20 million yuan ($2.95 million); their total income rose by 7 percent to 82 billion yuan over the previous year.

A total of 12 private companies in the district are now listed, with Jincheng Curtain Wall Decoration Engineering Co as the 2018 newcomer.

Thanks to the district's investment policies on industrial optimization and innovation for fast economic development, over 600 technological innovation-based enterprises entered the district last year, including companies focused on software and the internet of things industry.

The Wuxi National Hi-tech District always encourages industrial invention and innovation. Over 620 private companies own technological invention patents, 69 of which have been confirmed by Wuxi city, Jiangsu province or nationally.

In 2018, 1,142 new projects brought a total investment of 42.1 billion yuan to the district. The amount rose sharply by 80 percent, including a project involving 65,000 metric tons of aluminum for new energy vehicles undertaken by Apalt Science and Technology Company, a smart supply chain project by Wuxi Huadong Heavy Machinery Company and an R&D base construction project by Wuxi Autowell Technology Company.

A series of policies were launched to support and guide the development of private economy in Wuxi National Hi-tech District. Two hundred million yuan was put into 270 private technological transformation projects to encourage industrial upgrading.

Various industrial parks and maker spaces became platforms to attract high-end talents in new industries such as the internet of things, software, integrated circuits, intelligent manufacturing, 3D printing and new energy.

The Wuxi National Hi-tech District Management Committee will continue to optimize the district's development environment, ease its access, upgrade its industrial structure and promote product transformation for economic growth.