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SIPAC Meeting Calls on Sustained Development

2005 is the crucial year for Suzhou Industrial Park to achieve the goal of well-off society and accelerated advancement towards basic modernization. At the meeting recently held by Sipac, the SIP Party Working Committee, in line with the requirement of "striving for strengthen economic foundation, new innovations, and excellent quality in construction" by the Provincial Party Committee, and the demand of "faster speed, better service, new structures, and focus on economic growth" by the Municipal Party Committee, called on persistent efforts to accomplish the 6 major tasks: 1) to create further conditions for economic growth at high point, 2) to build up new profile of service industries, 3) to construct a modern urban area in the east of Suzhou, 4) to form a new pattern of coordinated development of urban and rural areas, 5) to enhance superiority of the new social and economic structure, and 6) to enhance good social ethics.     

From January to June, SIP turned out 26.63 billion RMB GDP, showing an increase of 21% over the same period of last year. The total industrial output value amounted to 72.2 billion RMB, an increase of 25%, and the general financial revenue reached 2.02 billion RMB, an increase of 35%. SIP is leading in all economic targets and the external-oriented economy of the whole municipality. The total import and export volume of SIP during this period amounted to US$ 18.2 billion (an increase of 42%), in which export accounted for US$ 8.6 billion (a rise of 65%). The contracted foreign investment in the first half of 2005 was US$ 2.16 billion, and the paid-up foreign investment capital US$ 750 million. For the first time SIP ranked first in the municipality in the four targets of total import and export volume, the export volume, contracted foreign investment, and paid-up foreign investment capital.

SIP has set up the goal of reinforcing its superiority in the new upsurge of development, construction, and readjustment. As was called out by Wang Jinhua, Deputy Secretary of Municipal Party Committee and Secretary of SIP Party Working Committee, SIP is to adhere to the four basic principles:"persistent efforts to speed up development, determination to adopt scientific approach in development, stress on spurring on the growth of service sector, and perseverance in structural reform".

Wang also called on greater efforts to strive to make SIP a pace-setter in the whole country in meticulous planning, environment improvement, industrial strength, new and hi-tech, and harmonious development of all fields. It is anticipated that by the end of the year, an additional registered foreign capital will reach US$ 4 billion, and the paid-up capital US$ 1.8 billion. Concentrated efforts will made to build up the 5 bases: the software and IC designing base, cartoon industrial base, the growing hi-tech industrial base, the advanced education and research base, and the intellectual property protection base in SIP.

August 21, 2005

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