NANJING, Nov. 8 (Xinhua) -- Fourteen European industrial projects with a total investment of nearly two billion euros (about 2.13 billion U.S. dollars) were signed on Wednesday in the city of Wuxi, east China's Jiangsu Province.
The projects, including a medium voltage intelligent equipment digital factory project of Germany's Siemens Group and a green smart industry base project of France's Schneider Electric Group, were inked at the 2023 China-EU (Wuxi) Industrial Innovation and Cooperation Conference.
The projects mainly focus on such fields as the Internet of Things, high-end equipment and auto parts. Upon completion, the total annual output is expected to reach 35 billion yuan (about 4.8 billion U.S. dollars), local authorities said.
The building of a China-EU industrial innovation zone was inaugurated at the conference. Covering an area of 24.5 square km, the zone is located in the Wuxi National High-tech District and plans to bring together more than 100 projects of European multinationals by the end of 2025.
Also unveiled at the event were the EU Project Innovation Center (Wuxi), the China-EU Vaccine Research and Industry Collaboration Center, and the Fraunhofer Sino-German (Wuxi) Innovation Center.
At present, 166 enterprises from EU countries have invested a total of 15 billion euros in the Wuxi National High-tech District, achieving sales revenue of more than 118 billion yuan in 2022.