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The 8th China-Singapore Suzhou Industrial Park
Joint Steering Council Meeting Convenes in Beijing

The 8th China-Singapore Suzhou Industrial Park Joint Steering Council Meeting was held on Aug. 24 in Beijing, co-chaired by Wu Yi, Vice-premier of State Council and Chinese Chairperson of the Joint Steering Council, and Wong Kan Seng, Deputy Prime Minister of Singapore and Chairman of the Joint Steering Council from Singapore side.

The meeting reviewed the development of Suzhou Industrial Park since the previous meeting in May 2004, and gave high appraisal to the achievements in SIP development and construction and the work in all fields. For the past two years and more, SIP has registered an average annual economic growth rate of 25%, while the level of opening has been noticeably raised. During this period, 981 foreign investment projects were approved with 9 billion US dollars contracted investment, and 3.8 billion USD paid-up investment capital. So far, the total foreign investment in SIP has amounted to 25.8 billion US dollars, with paid-up capital at 11 billion USD.

It is pointed out at the meeting that SIP has continued the work in depth to adapt the experience of Singapore and organized trainings on specific subjects with clear aims. 19 groups of managerial personnel with 374 person/times have been to Singapore for training. The meeting agrees that positive efforts should be made to disseminate the results from the adaptation of Singapore's experience.

The meeting gives a clear outline of the development targets and tasks in SIP development during the "11th 5-year plan" period, which boil down to: further optimizing industrial structure to improve the international competitiveness of SIP, accelerating the development of service sector on the basis of vigorous development of modern industries, reinforcing the efforts in technological innovation with major focus on attracting innovative types of technological enterprises, technology-oriented service enterprises, and R&D institutions so as to speed up the process of building up a hi-tech industrial park, further deepening the reform and opening up to bring into full play the structural superiority with stress on the intellectual property rights protection an coordinated development of all undertakings, and speeding up the work to build up a harmonious society. The targets set at the meeting are: the economic growth rate till the year 2010 will be kept at 20% annually, and major economic targets will be doubled on the basis of those in 2005. The two sides agree to further enhance cooperation with positive measures to create better conditions for the future development of SIP.

It is reiterated at the meeting that the two sides will persist in the principle of "equality, mutual benefit, and sincere cooperation", expand the results of China-Singapore cooperation, continue to improve the investment climate of SIP, and build SIP into a world-class hi-tech industrial park with international competitiveness.

Participants in the meeting from the Chinese side were: Bo Xilai, Minister of Commerce, Xu Shaoshi, Deputy Secretary-general of the State Council, Wu Dawei, Vice-minister of Foreign Affairs, Zhang Xiaoqiang, Vice-chairman of National Development and Reform Commission, Vice-minister Shang Yong of Science and Technology, Lou Jiwei , Vice-minister of Finance, Ma Xiuhong, Vice-minister of Commerce, Li Yuan, Vice-minister of State Land and Resources, Qiu Baoxing, Vice-minister of Construction, Sheng Guangzu, Deputy Chief of General Administration of Customs, Li Chaoyuan, Secretary of CPC Jiangsu Provincial Committee and Chairman of Standing Committee of Jiangsu Provincial People's Congress, Liang Baohua, Governor of Jiangsu Province, Wang Rong, Member of Standing Committee of CPC Jiangsu Provincial Committee and Secretary of CPC Suzhou Municipal Committee, Zhang Weiguo, Vice-governor of Jiangsu Province, Yan Li, Deputy Secretary of CPC Suzhou Municipal Committee and Mayor of Suzhou, Wang Jinhua, Member of Standing Committee of CPC Suzhou Municipal Committee and Secretary of SIP Party Working Committee, and Wang Shaodong, Member of Standing Committee and Secretary-general of Suzhou Municipal Party Committee, etc.

Participant in the meeting from the Singapore side included: Minister Lim Swee Say of Prime Minister's Office, Khaw Boon Wan, Minister for Health, Raymond Lim, Minister for Transport and Minister for Foreign Affairs, Li Yi Shyan, Minister of State for Trade and Industry, Chin Siat Yoon, Singapore Ambassador to China, Teo Ming Kian, Chairman of Economic Development Board, Peter Ong, Permanent Secretary of Ministry of Trade and Industry, Ow Foong Pheng, CEO of JTC Corporation and Vice-chairman of CSSD, and Chia Chung Mun, Dept. Director of Software Project Office, etc.

Aug. 25, 2006


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