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Suzhou Industrial Park Sees Fast Growth
The Suzhou Industrial Park, a prominent Sino-Singaporean cooperation project, reported soaring growth last year.
In 2000 the park scored a gross domestic product (GDP) of 13 billion yuan (US$1.6 billion), financial revenue of 1.63 billion yuan (US$196 million) and an import and export value of US$3.4 billion, up 75 percent, 144 percent and 130 percent respectively, according to statistics.
The park experienced a full prosperous year in 2000, making a profit of 1.84 billion yuan (US$222 million), nine times the figure for the previous year, Wang Jinhua, director of the park's management commission.
Last year 36 new foreign-funded projects were founded in the park and 52 existing enterprises increased their investments. As a result the park added US$1 billion of contractual foreign investment, with realized foreign investment amounting to US$630 million.
The park expects to have a 50 percent growth this year, with its GDP hitting 18 billion yuan (US$2.2 billion), financial revenue 2.1 billion yuan (US$253 million) and import and export US$5 million, Wang said.
Contractual overseas investment is expected to rise to US$1.5 billion this year, and the actual investment is to reach US$800 million.
The park will intensify cooperation with its Singaporean partner to introduce programs in the service sector and modern agriculture. It also tries to hire professionals worldwide and aims to set up an effective, clean and business oriented administration, according to Wang.
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