The Liyuan Economic Development Zone is located in Binhu district, Wuxi, Jiangsu province. [Photo/WeChat account: wxbhfb]

Binhu district in Wuxi, East China's Jiangsu province has seen robust industrial development over the past year, local media outlets reported.

In the first 11 months of 2021, the gross output of enterprises above designated scale in the district reached 68.04 billion yuan ($10.67 billion), up 27.3 percent year-on-year.

The number of high-tech companies in Binhu is expected to surpass 550, an increase of 17.7 percent over 2020. By the end of November, 102 companies with over 10 million yuan in registered capital had opened business in the district.

Data showed that the 136 companies involved in the integrated circuit sector in Binhu generated 8.25 billion yuan in sales from January to November, surging 76.2 percent year-on-year. The district's 270 new-generation information technology companies generated 13.2 billion yuan in sales during the same period, up 27.13 percent.

In addition, the biomedicine industry in Binhu was expected to be worth 14 billion yuan in 2021.

Employees work at Wuxi Haobang High-Tech Co in Binhu. [Photo/WeChat account: wxbhfb]

Binhu's industrial enterprises have been making strong efforts toward digital transformation. Among them is Jiangsu Kaidi Aircraft Engine Control System Co. The supercharger manufacturer invested 15 million yuan in improving its production plant and managed to increase its capacity three-fold and its production efficiency five-fold.

Binhu is also enhancing cooperation with other areas in industrial development. In April, it signed a cooperation agreement with Yixing, a county-level city in Wuxi, to build a biomedicine industry base that is expected to generate 50 billion yuan in annual output.

By 2025, the six major industries in Binhu, namely IC design, life sciences, new-generation information technology, core components for marine and aeronautic engineering, intelligent equipment, and digital culture, are expected to be worth 150 billion yuan.