The unveiling ceremony for the Taicang-Dresden Aerospace New Material Innovation Center is held in Taicang on Oct 24. [Photo/taicangdaily.com]

Taicang in Jiangsu province and the Dresden University of Technology jointly launched a research institute for the aerospace industry on Oct 24.

The Taicang-Dresden Aerospace New Material Innovation Center is a joint venture between the Taicang municipal government and the Dresden University of Technology, a German university and world leader in material engineering and nano-technology.

The institute will take advantage of German resources and help develop Taicang's aerospace and aviation industry.

The unveiling ceremony also witnessed the signing of agreements for another 99 aerospace, biomedicine, and talent incubation projects worth about 30 billion yuan ($4.47 billion).