Industrials Author: Zhenduo Wang Nov 10, 2020 02:10 AM (GMT+8)

CRRC Urban Transportation Company has invested in Wujiang Intelligent Manufacturing Industrial Park. One of the significant sub-projects, Fenhu Future AI Community, will stimulate the local technology development and economy in Suzhou.

Image Credit: Greg Beatty / Bangkokpost

On November 9, 2020, Wujiang Intelligent Manufacturing Industrial Park, which invested by Greenland Holdings, CRRC Urban Transportation Company (Chinese: 中车城市交通有限公司), and Wujiang District Government, construction kicks off in Suzhou, Jiangsu. The industrial park is the first ultra-large project since the concept, Yangtze River Delta Ecologically Friendly Development Demonstration Area (Chinese: 长三角生态绿色一体化发展示范区), was proposed in 2019.

Fenhu Future AI Community (Chinese: 汾湖未来AI社区), as one of the key sub-projects in the industrial park, is expected to be a leading AI manufacturing base in China. The community has a planning area of over 22 acres. After the completion of the project, it is expected it will attract about 36 thousand high-quality talents and high net worth residents, stimulating consumption of about CNY 3.6 to 6 billion, and raising financial revenue of CNY 150 to 240 million.

CRRC Urban Transportation Company is a green intelligent transportation integrated solution platform and secondary investment platform subsidiary of CRRC that was founded in Shanghai. Stimulated by the bullish news, CRRC stock (601766:SH) opened up 1.85% to CNY 5.67 on Monday.