The city of Wuxi, Jiangsu province signs a cooperation agreement with Tsinghua University in Beijing on March 12 to construct a supercomputing center in Wuxi and establish an emerging industry investment foundation totaling 16 billion yuan ($2.5 billion). [Photo/wxrb.com]

The city of Wuxi, Jiangsu province signed a cooperation agreement with Tsinghua University in Beijing on March 12 to construct a supercomputing center in Wuxi and establish an emerging industry investment foundation totaling 16 billion yuan ($2.5 billion).

Li Xiaomin, Wuxi Party secretary met with Qiu Yong, principal of Tsinghua University, and addressed the signing ceremony.

Li praised the university as an important base featuring abundant science education resources and scientific research achievements that has fostered numerous high-level personnel throughout the years.

Early in 2005, Wuxi signed comprehensive cooperation agreements with the university to set up Wuxi Research Institute of Applied Technology, Tsinghua University, greatly promoting the city's technology innovation and industrial upgrading.

Li spoke of the city's remarkable success across modern industries and laid out its future industrial landscape of building a new standard for modern industrial development featuring intelligent service, green environment and high-end technology. He expected the cooperation this time would promote technical exchange, financial innovation and talent fostering between the city and the university through resource sharing.

Qiu appreciated the support from Wuxi government and recognized the city one of the university's closest strategic partners in the country. The two sides have already signed comprehensive cooperation agreements three times previously producing outstanding results in the commercialization of research findings.

The people of Wuxi's spirit of striving for the best is contributing to the city's commercial culture and brilliant achievements, said Qiu. He pledged that Tsinghua University would emphasize higher education concerning innovation and entrepreneurship and keep practicing innovation-driven development to create a new cooperation mode.

According to the agreement, Tsinghua University will settle its national and major research projects in Wuxi as a priority and launch exchange programs in various fields at intervals.

The supercomputing center to be built will be aimed at optimizing high performance computing (HPC), fostering HPC talents and developing emerging industries.

The emerging industry investment foundation will have three special funds, that of integrated circuits, life health and energy environments, adding to a comprehensive venture capital fund. It is expected to help develop listed companies with capital market competitiveness or potential further promote the city's modern industry construction.

Wang Quan, mayor of Wuxi and You Zheng, vice principal of Tsinghua University, signed the agreement.