Dan Lane introduces the US state of Colorado as an investment destination at the conference on Sept 21. [Photo by Zhou Wenbo/chinadaily.com.cn]

Zhao Xuesong and Hu Yi, deputy directors of Liangxi and Wuxi National Hi-tech districts respectively, then presented their districts' development plans.

Liangxi will focus on promoting professional services and cultural tourism, which fits well with its status as the downtown area of Wuxi, according to Zhao.

Wuxi National Hi-tech District, meanwhile, will continue to support its vibrant integrated circuit industry, which generated nearly 50 billion yuan ($7.5 billion) in 2016, accounting for 11.5 percent of the national aggregate, Hu stated.

Another important growth driver will be the internet of things industry, which generated more than 100 billion yuan in 2016, according to Hu.

Wuxi has launched two major projects to promote the city's IoT industry in 2017, the Urban Cloud Brain Project and the Industrial Awakening Project, which are expected to promote the use of IoT technology to revitalize the city's manufacturing and urban governance fields.