An industrialization project of the Wuxi Lihu Wheel Manufacture Co in Binhu district, Wuxi, in Jiangsu province recently obtained state investment of 18.99 million yuan ($3 million), making it the first company in the district to receive an investment allocated from the central government's budget.

With a total investment of over 200 million yuan, the project, on the industrialization of crucial parts and components for gasoline engine superchargers, boasts independent and leading technologies and can replace similar imported products in the country.

As a supplier and strategic partner of Honeywell International, the world's largest supercharger manufacturer from the US, the company has promoted technical exchanges for years and applied for national invention patents.

After the project completes, it will not only bring the company a larger production capacity and enormous economic benefits, but also make contributions to the development of the Chinese auto industry.