China-Singapore Suzhou Industrial Park

China-Singapore Suzhou Industrial Park [Photo/sipac.gov.cn]

China-Singapore Suzhou Industrial Park (SIP, 苏州工业园区) is a cooperation project between China and Singapore. Its establishment was approved by the State Council in 1994 with a planning area of 278 square kilometers, of which 80 sq km are for Sino-Singaporean cooperation.

SIP has been developing its high-tech and intelligent manufacturing industries, and implementing an innovation-driven strategy over the years.

It has formed an industrial system with two leading industries – electronic information and machinery manufacturing–and three emerging industries – biomedicine, artificial intelligence and nanotechnology.

The five industries have attracted more than 4,800 foreign-invested projects with a foreign direct investment of $30 million, of which 156 have investment from 92 Fortune Global 500 companies.

The output value of the biomedicine industry reached 61.5 billion yuan, a year-on-year increase of 28 percent, and its industrial competitiveness ranks first among all of China’s high-tech zones. The output value of the artificial intelligence industry totaled 35 billion yuan, increased by 30 percent compared to the previous year. The nanotechnology industry achieved an output value of 50 billion yuan, a growth of 36 percent year-on-year, and it is rated as one of the eight most representative areas around the world in the micro-nano manufacturing field.

Besides, SIP has been continuously conducting an innovation-driven strategy.

At present, there are more than 4,000 technological innovation-based enterprises, and 875 national high-tech enterprises in the park. Additionally, 161 foreign-invested research and development (R&D) institutions and more than 20 national-level innovation bases have been built in the industrial park.

It also actively introduces more than 500 renowned domestic and overseas R&D institutions, including the Chinese Academy of Sciences' Suzhou Institute of Nano-Tech and Nano-Bionics and the Oxford Suzhou Center for Advanced Research, as well as 29 colleges and universities, such as the University of Science and Technology, Xi'an Jiaotong-Liverpool University, and the National University of Singapore. The average patents for inventions produced over the past three years has reached 11.

As a result, the industrial park's GDP in 2017 reached 235 billion yuan, a year-on-year increase of 7.2 percent. The general public budget revenue was 31.78 billion yuan, a growth of 10.3 percent and accounting for 13.5 percent of the total GDP. Export-import volume totaled $85.8 billion US, a 15.5 percent increase compared to the previous year. R&D investment accounted for 3.48 percent of GDP.

SIP ranked first in the comprehensive evaluation of national economic development zones, and ranked in the top five of all national high-tech zones, which is a historical record.

Website: https://www.sipac.gov.cn/ 

Address: 999 Xiandai Rd, SIP