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.
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.