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SIP China-Singapore Cooperation Zone Expands by 10 Km2

It reported from the 8th China-Singapore SIP Joint Steering Council Meeting, held in Beijing on Aug. 24, that while major targets and tasks are set forth for SIP during the period of "11th 5-year plan", more policies have been granted to support SIP development, including the implementation of all preferential policies for national hi-tech industrial development zones, the experimentation of hinterland bonded port, the planned listing of CSSD, and the construction of SIP platform for internationalized cooperation, etc. Besides, it is decided at the meeting that, with the approval of the State Council, the China-Singapore Cooperation Zone of SIP will be expanded by 10 km2 as the first step to ensure sustained and accelerated development of SIP.

After 12 years' development, the 70 square kilometers' area of China-Singapore Cooperation Zone has been all covered with projects, with an average of 1.7 billion USD invested on each square kilometer. The scanty land resource has posed as a crucial issue for the further development of SIP. Under the coordination in the general planning of land utilization and the urban planning of Suzhou Municipality, a moderate expansion of the cooperation zone by 10 km2 will be carried out with the approval of central government. Vice-premier Wu Yi points out that the decision shows clearly the support of central authorities to SIP development and the goal to advance towards "the most competitive hi-tech internationalized industrial park".

Aug. 25, 2006


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