Top 10 economic development zones in China
- By Xu Lin
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China.org.cn, September 27, 2011
Suzhou Industrial Park (SIP) （苏州工业园区）
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Suzhou Industrial Park |
Located east of Suzhou's historic downtown, the Suzhou Industrial Park (SIP) is an important economic cooperation project between the Chinese and Singaporean governments. It was established in May 1994, with a total planned area of 288 square kilometers, of which 80 square kilometers belong to the China-Singapore Cooperative Zone.
With strong IT and machinery manufacturing sectors, the SIP makes full use of its advantages as a "demonstration base of service trade innovation," focusing on developing the banking, finance, outsourcing, creative cultural, trading and logistics, tourism, convention and exhibition industries. Other industries such as new energy, bio-pharmaceutical, converged communications, animation and games, and environmental protection have also emerged in the area.
A total of 85 Fortune Global 500 enterprises have invested in 138 projects in the SIP, of which 55 percent are projects from the U.S. and Europe.
In 2010, the gross regional product of the SIP reached 133 billion yuan (US$20.82 billion), 15 percent higher than the previous year; it utilized foreign capital of US$1.85 billion, and its trade volume totaled US$73.8 billion.
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