The successful results of China-Singapore cooperation are being reaped at Suzhou Industrial Park.
This year marks the 30th anniversary of the establishment of the Suzhou Industrial Park. As a model of cooperation between the governments of China and Singapore, the SIP has become fertile ground for entrepreneurship and investment.
Located by Jinji Lake in Suzhou, East China's Jiangsu province, the SIP was the first industrial park in China established with the cooperation of China and Singapore. Three decades ago, this area was a low-lying land for oat growing. Nowadays, it has become a testimony to Singapore's deep involvement in China's reform and opening-up, officials said.
On Nov 25, the park celebrated its 30th anniversary of development and construction. Senior Minister of Singapore Lee Hsien Loong said at the celebration that the success of the park not only reflects the growth of both countries but also demonstrates how China-Singapore cooperation has branched out with their mutual development. On one hand, China has learned from Singapore's experiences in economic development, investment promotion and urban planning. On the other hand, as China has gradually integrated into the world, Singapore has had the opportunity to gain a deeper understanding of China's industries and markets and participate in China's reform and opening-up process.
During a high-quality development forum held on the same day in the park, senior officials from both the Chinese and Singaporean governments agreed that the two parties should better leverage the role of the SIP as a pioneer in China-Singapore cooperation, continuously deepen institutional reforms, expand international cooperation and strive to build a worldwide notable high-tech park for opening-up and innovation.
Notable dates
In February 1994, the governments of China and Singapore signed an agreement to develop a modern and international industrial park in Suzhou. To coordinate park affairs, a coordinating council was established by the two governments, dedicated to joint planning, coordinated investment promotion and shared development.
In September 2015, the State Council approved the overall plan for the SIP to conduct experiments for opening-up and innovation, affirming the park's construction experience and calling for the active promotion of park experiences.
The park's GDP increased to 368.6 billion yuan ($50.7 billion) in 2023 from 1.13 billion yuan in 1994, a 325-fold increase. The value of the industrial output above designated size increased from 3.23 billion yuan to 650.9 billion yuan, a 201-fold increase. And the general public budget revenue increased from 22 million yuan to 41.1 billion yuan, a 1,868-fold increase.
By numbers
As an innovation-intensive science and technology park, the park hosts more than 9,000 innovative enterprises, and 2,779 national high-tech enterprises, including about 2,300 biopharmaceutical companies, 1,100 nanotechnology companies and 1,500 artificial intelligence companies.
It boasts five major 1-trillion-yuan-scale industry clusters in future-oriented information technology, biomedicine and healthcare spheres, with strategic emerging industries and high-tech industries accounting for 58.5 and 73 percent of the industrial output value, respectively.
The park is home not only to Fortune 500 companies such as Bosch and Emerson, but also major innovation platforms such as the Suzhou Laboratory, National Center of Technology Innovation for Biopharmaceuticals and the Sangtian Island for densely distributed construction projects.
In recent years, in line with global industrial transformation trends, the park has been building up a new dual-circulation development pattern to achieve high-level opening-up. The park has attracted more than 5,100 foreign investment projects and utilized more than $40 billion in actual foreign investment, with 174 investment projects from 104 Fortune 500 companies in the area.
Green hub
Unlike other industrial parks in China, the park resembles a garden. Over the past 30 years, it has been coordinating the layout of production, living and ecological spaces to create a livable and business-friendly environment.
The tree-lined avenues, urban gardens and pocket parks give an overall sense of comfort. Tall buildings stand under the blue sky and white clouds and the clear water system shows how the beauty of architecture and the ecology complement each other.
On Nov 21, the Ministry of Commerce issued several measures to support the deepening of opening-up and innovation comprehensive trials in the SIP, focusing on the four main tasks: building a globally attractive hub for opening-up, establishing a regionally influential high-tech innovation hub, constructing a globally competitive modern industrial highland and showcasing a model of governing a modernized development zone in China.
In the future, the ministry will collaborate with the State Council and Jiangsu province to strengthen the overall coordination and guidance for the SIP, ensuring the effectiveness of various reform tasks.
An elevated view of Suzhou Industrial Park by Jinji Lake, which used to be a low-lying land for agriculture but is now a testimony to China-Singapore cooperation. ZHOU ZHIHANG/FOR CHINA DAILY
Dushu Lake Science and Education Innovation District in the park gathers a large number of research organizations. CHINA DAILY
Landmark buildings and ecology complement each other to create a fine view in Suzhou. GE LEI/FOR CHINA DAILY