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SIP Service Sector Expands to 2,000 Enterprises

The plan to double the service industries in SIP begins this year. Currently, there are altogether over 2,000 enterprises in the SIP service sector, with 21.9 billion yuan RMB business earnings in the first 6 months of this year, an increase of 12% over that of the corresponding period of last year. An added value of 6.56 billion yuan RMB was created in the whole of SIP, comprising 24.6% of the GDP of SIP, which was raised by 1.3% as compared with last year. Investment in fixed assets of service industry amounted 8.63 billion yuan RMB, about 53.6% of the total in SIP. As the result of marketing for investment, many new projects in the first half of this year belong to the service sector. Statistics from January to June show that 649 projects in the service sector were approved, which consist 57% of the total in the first half of the year. The foreign investment in service industries helped to raise the level and brand fame of SIP service industries.Statistics indicate that the newly approved service enterprises from January to June involved a total of 2.83 billion yuan RMB registered capital, in which are 72 foreign-funded projects with US$137 million registered capital, 577 domestic projects with 1.691 billion yuan RMB registered capital. The increase number and registered capital make up 57% and 17% respectively of those of the whole SIP.

This year, following Hong Kong and Shanghai Banking Corporation, Standard Chartered Bank HK, HK East Asia Bank, Sino-Singapore Investment Venture, and other foreign-owned financial institutions have entered SIP. A total of 21 domestic banks, insurance companies, pawn companies, and investment guarantee companies, have started business in SIP. UPS of the United States, Kintetsu Group of Japan, and Hong Gao and other famous logistic companies set up their bases in SIP Duty-bond Logistic Center. The Dushu Lake Zone of Advanced Education saw the entry of Suzhou Postgraduate School of Nanjing University, Suzhou Branch Center jointly under Multimedia Computer and Communications Division China University of Sciences and Microsoft Major Laboratory, the New-generation Web Server-Computer Allied Laboratory, etc. More than 50 information and software projects entered SIP International Technology Park. Over 30 specialized service institutions in accounting, consulting, and employment agency, such as **** and American Wharton Investment Consulting, have already begun their services in SIP.

Many international brands have appeared in SIP real estate and commercial fields and retail and catering businesses, among which are ** Property of Singapore, Carrefour, which is to open its second supermarket in SIP, hotel from Singapore, restaurant from France, Antuo Country Club of Taiwan, etc.

It is reported that the marketing department of SIP have a good number of high-quality investment sources in hand, and some 100 projects are being negotiated The investors with clear intent will invest some 400 million US dollars. It is expected that some world-famous business firms, investment companies, and special service industries will be present shortly in SIP.

August 15, 2005

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