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Suzhou Industrial Park

  • Overview
  • Progress

A cooperative project between the Chinese and Singaporean governments, Suzhou Industrial Park was approved by State Council in February 1994 and was launched in May of that year. SIP is located in the eastern part of the ancient urban area of Suzhou, with a planned area of 288 km2 and with an area of 80 km2 designated for China-Singapore Cooperation. Suzhou Industrial Park is connected to those surrounding main cities via well-developed highways, railroads, waterways and aviation networks. Travel by rail to Shanghai will take some 20 minutes, 60 minutes to arrive in Nanjing, while the rail traffic from the area connects smoothly with rail traffic through Shanghai, Nanjing and Hangzhou.

Through the joint efforts of both the Chinese and Singapore parties, a fast and healthy momentum has been continuously maintained in the development and construction of SIP, where all major economic indicators have recently been showing a 30% annual increase. In 2012, we achieved a regional GDP of some 173.8 billion yuan, with the local general budgetary revenue of 18.5 billion yuan and total import and export volume of 79.5 billion US dollars annually. Occupying 3.4% of the land and 5.2% of the population in Suzhou, Suzhou Industrial Park generates 15% of the economic output of the entire city.

As of 2012, we have attracted some 4,818 foreign enterprises with foreign investors involved in the funding of projects from 86 out of the World Top 500 enterprises, and have an accumulated contractual foreign investment of 44.66 billion US dollars and domestic investment of 286.8 billion yuan. A group of foreign invested enterprises with an annual sales volume in excess of 1 billion US dollars have emerged, where their rates of capacity use and rates of projects completed and put into operation have all been over 70%. Over the past two years, 80% of those new enterprises which have been put into operation have proved to be profitable, and nearly one quarter of such enterprises has re-earned their full level of investments.