Innovation Features Industrial Park
Great headway has been made by the China-Singapore Suzhou Industrial Park in the past 13 years due to policies encouraging innovation and investment.
Built in May 1994, the park covers about 4% of Suzhou’s land and population and produces 15% of the city’s GDP, 25% of its foreign investment and 30% of foreign trade. It mainly targets capital-intensive, technology-intensive and flagship projects. So far, the industrial park has set up a comprehensive network to attract investors and ensure that the park secures multibillion-dollar projects.
Recently, the park has attached greater importance to projects that highlight science, technology and service.
It has approved more than 3,000 foreign-funded companies with total actual foreign direct investment of $13.4 billion. Its trade volume has grown to $56.7 billion. In addition, it has made over 10 policies to improve innovation and encourage investors to set up R&D centers. And plans encouraging IPR protection and aiming to attract skilled professionals have also been launched.
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