Foreign Investors Favors Suzhou's Pharmaceutical Industry
A new wave of investment is shown in the pharmaceutical industry of Suzhou. Statistics show that 28 pharmaceutical and medical appliance enterprises were set up in Suzhou last year, and foreign investors are taking a favorable view of this field of industry.
As is learned from official administration of drugs, the sales revenue from medical and pharmaceutical industry hit over 10 billion yuan RMB for the first time in 2005. A host of foreign enterprises of pharmaceutical and medical appliances, impressed by the business opportunities in Suzhou, invested a total of 300 million USD last year. In previous years, the main investors came from USA, Japan, and China's Taiwan, but in the past couple of years, investors from Germany and Sweden joined the tide of investment, while there has been marginal increase in the investment amount and technological input. The assets of foreign-invested enterprises are estimated at 155 million US dollars, and 60% of the projects are either completed or under construction.
At present, the American Yilong Group, the largest global manufacturer of sick beds, has located its Asian-Pacific supply chain management center in SIP, named Yilong Commercial Service (Suzhou) Co., Ltd. The new plant of Suzhou Capsule Co., Ltd., invested by Capsule Division of American Pfizer Corporation, has officially gone into operation as the world's largest and technically most advanced capsule producer with an annual output of 14 billion capsules for pharmaceutical purposes.
Feb. 24, 2006