Suzhou city in Jiangsu province, China. Photo: iStock
Suzhou city in Jiangsu province, China. Photo: iStock

Chinese real estate developer Greenland Group has signed a strategic cooperation agreement with the Suzhou Municipal Government, to cooperate in the fields of consumption, infrastructure and healthcare, with a total investment exceeding 100 billion yuan (US$14.55 billion), The Paper reported.

The two parties will jointly build up a science and technology city in the Yangtze River Delta area, with artificial intelligence and life sciences as the leading industries. The total investment will reach 50 billion yuan.

The high-tech city will feature a total construction area of five million square meters, and be located at the junction of Shanghai and Suzhou.

It will apply intelligence technology not only in the leading industries, but also in the areas of lifestyle, city management and transportation.

Well-known enterprises and institutions at home and abroad, such as DeepBlue Technology and Chinese Academy of Sciences, will be introduced to move into the new city.