The first phase of the medical equipment production base of Genesis MedTech is located in Binhu, Wuxi. [Photo/WeChat account: wxbhfb]

Authorities in Binhu district in Wuxi, East China's Jiangsu province have been accelerating efforts to aid the development of its major projects so as to drive high-quality development.

Among the major projects is the first phase of a 5-billion-yuan ($697.59 million) high-end medical equipment production base of Singaporean company Genesis MedTech, which is now nearing completion. The base spans 13.53 hectares and will manufacture medical consumables used in interventional surgery.

The base's innovation center, where animal testing and technical training will be held, is expected to open in November. The second phase will be put into operation in the first quarter of 2023.

The base is expected to generate over 10 billion yuan in output in three to five years. It will create hundreds of jobs in Wuxi and help make the city a high-end medical equipment manufacturing hub in China.

Meanwhile, the 5-billion-yuan production base owned by Jiangsu Xihua New Energy Technology Co is also under construction. The first phase is expected to have an annual output of 5,000 4-megawatt wind turbine gearboxes worth 2 billion yuan. The second phase is a technical research and development platform related to clean energy and new materials.

Xihua, established in Binhu in June 2001, specializes in the manufacturing of gearboxes used in wind turbines and supplies many industry leaders such as Siemens and CF. The company's sales revenue in 2021 totaled 1.28 billion yuan.

A number of other projects, including a 3.19-billion-yuan residential and commercial building of China Resources and the Mashan data center of China Mobile, are also making steady progress.

In the first half of 2022, provincial-level and municipal-level major products in Binhu received 236 million yuan and 3.85 billion yuan in investments respectively.