Introduction to Wuxi Economic Environment

The economic profile of Wuxi is mainly reflected in its GDP, industrial structure, and future industrial development.

Overall economic situation

Wuxi's GDP is expected to reach around 1.62 trillion yuan in 2024, with a year-on-year growth of about 5.8%. In 2023, Wuxi will achieve a regional gross domestic product of 1.55 trillion yuan, and its per capita GDP will rank first among large and medium-sized cities in China for four consecutive years.

industrial structure

The industrial structure of Wuxi is centered around modern industrial clusters, mainly including the following areas:

Four landmark industries, including the Internet of Things and digital economy, integrated circuits, biomedicine, high-end equipment, and new energy.

There are six advantageous industries, including high-end textiles, energy conservation and environmental protection, characteristic new materials, automobiles and parts, software and information technology services.

Five future industries include artificial intelligence, quantum technology, third-generation semiconductors, hydrogen energy and energy storage, and deep-sea equipment.

Future industrial development

The total scale of Wuxi's "5+X" future industries has exceeded 100 billion yuan for the first time, including emerging fields such as commercial aerospace, low altitude economy, and humanoid robots. In the future, Wuxi plans to build no less than 15 future industrial characteristic parks by 2027, reach an industrial scale of 200 billion yuan by 2030, and ultimately achieve an industrial scale of 400 billion yuan by 2035. Wuxi also plans to deepen its main tracks such as general artificial intelligence and quantum technology, expand into new directions such as low altitude economy and commercial aerospace, and build a "5+X" characteristic development system for future industries.

The business environment in Wuxi has been significantly optimized in recent years and has been rated as the "best reputation prefecture level city". According to the main survey conclusions of the 2023 evaluation of the business environment for ten thousand private enterprises, Wuxi ranks second in the score of the business environment in prefecture level cities, second only to Tangshan.

Wuxi has promoted the construction of a digital government and created the "One Enterprise to Run" Wuxi Enterprise Service Platform in Jiangsu, providing one-stop services such as policy inquiry, application and approval, and financing docking for enterprises, achieving "one click direct access" to preferential policies for enterprises, and improving their satisfaction and sense of achievement. In addition, Wuxi has also established a multi-level progressive tax service system with "full online processing" as the main body. The non-contact tax rate remains stable at over 98.55%, greatly saving taxpayers and payers' tax processing time and reducing tax processing costs.

Wuxi has also made many innovations in specific services. For example, the Big Data Management and Government Service Bureau of Wuxi High tech Zone (Xinwu District), in conjunction with the Xinwu Branch of Wuxi Real Estate Registration Center, has achieved full lifecycle services from "land acquisition and construction" to "completion and certification", greatly improving the efficiency of enterprise operations. Wuxi has also launched 70 key reforms and 230 reform items, further optimizing the business environment, and has been listed as an "Innovative City for Business Environment" for four consecutive years.