A rendering of the new C&C Optical Material (Wuxi) Co Ltd production base in Binhu district [Photo/WeChat account: wxbhfb]

Wuxi's Binhu district held a launch ceremony on Jan 2 for 26 major industrial projects worth 18.72 billion yuan ($2.68 billion) which will be carried in 2020.

A total of 5.06 billion yuan is expected to be invested into the projects in 2020, with more investment coming in the following years.

The projects are involved in a wide range of fields, including advanced manufacturing, modern services and high-tech industries related to the R&D of polymers and chips.

Some of the projects, once put into operation, are expected to boost the development of China's high-end industries.

The ceremony also marked the start of construction on the new C&C Optical Material (Wuxi) Co Ltd production base, which will produce optical polyimide films.

With a total investment of 1 billion yuan, the production base will cover an area of seven hectares and is expected to produce 2,000 tons of optical polyimide films and receive 530 million yuan in sales per year.