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Sharing Business Opportunities in a Win-win Situation

Wang Jinhua, Deputy Secretary of Suzhou Municipal Party Committee and Secretary
of SIP Party Working Committee, gives an interview to reporters in Hong Kong.

Suzhou Industrial Park, comprising only 3% of the area of Suzhou Municipality, has developed into the fastest growing hi-tech industrial park in Mainland China with international competitiveness, yet the builders of SIP are not content with what they have achieved.

Speaking to the reporters on Nov. 30, Wang Jinhua, Deputy Secretary of Suzhou Municipal Party Committee and Secretary of SIP Party Working Committee, outlined the blueprint of SIP in the next decade by saying: "We have spent ten years on 3% of the area of Suzhou to achieve an economy of the entire municipality of ten years ago, and in another ten years, we will strive to build up a modernized new urban district with international competitiveness that equals to the economic strength of today's Suzhou."

Based on this development plan, SIP has started industrial restructuring and vigorous promotion of service industries. It is in such circumstances that SIP gears cooperation with Hong Kong, which enjoys a world-wide reputation in finance, trade, and logistics. At the promotion briefing on SIP service sector in Hong Kong on Nov. 30, SIP made this modern metropolis its first choice in marketing for investment.

In the views of Wang Jinhua, SIP and Hong Kong can supplement each other in industrial structures, and their cooperation will bring about a win-win situation. "The highly developed service industries in Hong Kong comprise 66% of the GDP. Economy in Hong Kong is typically service-oriented, whereas SIP is well developed in processing, manufacturing, and IT industries, which open up great business opportunities for financial and logistic services."

Wang points out that in striving for big leaps in service sector of SIP, equal stress is laid on services for both production and livelihood, and on both transformation of the traditional services and the development of modern services. In the next 5 years, service industries in SIP will be redoubled in added value, reaching 50 billion yuan RMB with an annual growth rate of 30%. The investment to be attracted in service industries will be no less than 40% of the total, and employees in service sector number 150,000, comprising 35% of the total employed population. The service industries will constitute over 40% of SIP economy.

The foundation laid by manufacturing industries in SIP in the past ten years has generated great demands for service industries. Wang emphasizes that priority will be given to the production-related services such as financial, logistic, convention and exhibitions, scientific research and education, and other specialized services.

Wang Jinhua expresses that SIP, developed through China-Singapore cooperation, is adapting both the Chinese and Western culture in creating a first-rate investment climate. "The credibility and legalized administration of the government, and the transparency of public offices will create the best conditions for investing cooperators. We believe that the world-class service industries of Hong Kong will bring vigor and vitality to SIP, and on the other hand, the development of SIP will offer a desirous operation platform for Hong Kong businesses."

Dec. 1, 2005

Suzhou Industrial Park Administrative Committee.2004 Copyright. All rights reserved