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Innovation priority at park |
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Written by Ralf Mostert
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Tuesday, 11 March 2008 |
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The China-Singapore Suzhou Industrial Park has made great progress in the past 13 years due to policies encouraging innovation and investment, its administrative committee said.
The park covers about 4 percent of Suzhou's land and population and produces 15 percent of the city's GDP, 25 percent of its foreign investment and 30 percent of foreign trade.
It was built in May 1994 in the east end of Suzhou in Jiangsu province. It operates under the principle of "selective investment" to avoid aimless investment that may lead to negative impact such as environmental destruction.
It mainly targets capital-intensive, technology-intensive and flagship projects, the administrative committee said.
A joint project between the Chinese and Singaporean governments, the industrial park has set up a comprehensive network to attract investors and guarantee the park secures multibillion-dollar projects.
The park has recently put more emphasis on projects that highlight science, technology and service.
It has approved over 3,000 foreign-backed companies with total actual foreign direct investment of $13.4 billion. The park's trade volume has increased to $56.7 billion from a mere several million when it first opened.
It has created more than 10 policies to improve innovation and encourage investors to set up research and development centers. It's also launched plans to encourage intellectual property right protection and lure skilled professionals.
Source:China Daily
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Suzhou News
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Havy rain floods parts of China north of Huaihe RiverThe northern parts of Anhui Province, east China, have been inundated with rain since Saturday and more than 240,000 residents have been affected, local officials said.
Suzhou, Bengbu and Fuyang, all north of the Huaihe River, a flood-prone waterway flowing east through Anhui, have received up to 283 millimeters of rain and experi...
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Japan-based Otsuka Pharmaceutical Co., Ltd. started building a plant in the China-Singapore Suzhou Industrial Park in East China's Suzhou City on April 17, 2008, the 50th pharmaceutical producer that establishes its foothold in the park.
With a total investment of USD 78 million, the new plant is to be engaged in developing and producing pharmaceutical products, especially injectio...
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News
Suzhou, is a city known for its dreamlike scenery, its poetic and melancholy history and its culture. The city, in east China's Jiangsu Province, is also known for its calligraphy. Its reputation here extends back to ancient times. Sunday, Suzhou was acknowledged, officially as a "City of Calligraphy". It is the second Chinese city to be awarded such an honor.
At the inau...
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