Fortune-500 Projects in SIP Rose to 100 Plus
A recent report from Suzhou Industrial Park Administrative Committee (Sipac) shows that Fortune-500 enterprises have invested in 101 projects in SIP, totaling USD 2.22 billion registered capital and USD 6.22 billion total investment and making SIP one of the regions of the densest investment by world-famous enterprises in the world.
Of this category of investment sources, 37.55 come from Europe, 27.8% from North America, 17.7% from Japan, and 17% from Korea.
The investment by Fortune-500 enterprises is showing an increasing tendency of building manufacturing bases in SIP. The American-funded Solectron, for instance, began to invest in SIP in 1996 with a first phase investment amount of USD 45 million, but after expanding its investment for 7 times, the total investment has exceeded USD 10 billion, with USD 13 billion annual sales avenue, which makes SIP a manufacturing base of semiconductor chips, laptop computers, household electrical appliances, and LCD for Solectron Group.
More and more Fortune-500 enterprises are setting up R&D organizations in SIP. The American-owned Emerson Electrical Corporation set up in SIP Emerson Climate Technology (Suzhou) R&D Co., Ltd., the German-owned Bosch Holdings set up a technological center for the purpose of developing the Chinese market, Panasonic Electrical set up Panasonic R&D (Suzhou) Co., Ltd., and the Korean-owned Samsung Group set up Samsung Semiconductor (China) R&D Company to develop semiconductor products.
The investment by Fortune-500 enterprises is now being extended to the service sector, such as finance, logistics, insurance, software, retail business, and real estate development.
Nov. 24, 2006