Development Review

Suzhou Industrial Park is a cooperative project between the Chinese and Singapore governments. It has created a new model for Sino-foreign economic and technological cooperation. Its Master Plan, under which the 70 sq km CS-SIP is being developed in three phases, has adapted the advanced urban construction experience of Singapore and other countries in the world. With the efforts of both sides, the 8 sq km-Phase I area has almost been completed. The Nine Utilities and Land-filling Project has reached a new level in infrastructure construction and laid down superior conditions for investment. Water works, power plant, gas plant, sewage treatment plant and a steam plant have also been put into operation. SIP has now become a hot spot for investment. 186 foreign-invested enterprises have been approved to settle in the Park, of which 158 are industrial projects. 94 industrial enterprises are already in operation and 24 under construction or renovation. By March, 2000, the whole Park had attracted a total foreign investment of US$ 6.998 billion, of which US$ 3.5 billion had been utilized. 36 Fortune 500 multinational companies have taken the lead to invest in the Park. A cluster of new and high-tech industries has been formed with electronics, genetic engineering, precision machinery and new materials as its pillar. Meanwhile, the Park has built 1,319,600 sq m floor area of residential, commercial and public amenities to complement industrial development. Schools, the star hotel, supermarkets, banks, Xinghai Swimming Complex and residences are built to ensure the high quality of life. 1,500,000 sq m green space has been created and the Central Park as well as SIP Golf and Leisure Center are now open to the public. SIP has also been adapting Singapore's experience in economic development and public administration. About 730 person times have been sent to Singapore for training on some 26 subjects. New regulations of urban construction, environmental protection, SIP Provident Fund and civil servants' recruitment have been brought into effect. The Park has become one of the youngest yet most vigorous development zones in China. When fully developed, it will accommodate a population of 600,000 and provide 360,000 job opportunities. SIP is expected to become one of the most competitive industrial parks both at home and abroad, which is led by high-new technology with modern industries as its main stay, and complemented by service industry and social amenities.