Taicang, a city in Suzhou, Jiangsu province, has made remarkable progress in its project attraction and construction efforts, drawing in a total of 292 industrial projects with registered capital exceeding 20 million yuan ($2.78 million).

Total investment in the projects in 2023 is 81.7 billion yuan. Six projects have gained recognition as major provincial endeavors, while an additional 56 have been designated key projects in Suzhou. Notably, 183 third-tier key projects have not only met but exceeded their annual investment plans, accumulating a total of 36.99 billion yuan in investment.

A highlight among these initiatives is the BMTS Technology's China regional headquarters and manufacturing base, acknowledged as a major provincial project for Taicang in 2023.

Covering an area of approximately 40,000 square meters, the project entails a total of nearly 3 billion yuan in investment. It is projected to generate an annual output value of 6 billion yuan and pay 280 million yuan in annual taxes upon completion.

Likewise, the United Automotive Electronic Systems (UAES) project, located in the Taicang High-tech Zone, has been identified as another major provincial project for 2023. With a total investment of 5.05 billion yuan, the project is planned in two phases. The first phase commenced operations in August 2023.

Official data reveals that the UAES project in Taicang achieved an investment completion of 648 million yuan last year, surpassing expectations with a completion rate of 127.1 percent.