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SIP Focus on "Chinese Service" to Promote Economic Restructure Upgrading

CCTV news broadcast, in a recent interview with Mr. Ma Minglong, Director of Sipac, reports that in the economically advanced region of Suzhou, efforts are being focused on building up the profile of "Chinese service" to speed up the upgrading of economic structures.

In the development program for this year, SIP aims at the target to increase the proportion of service sector by 2%, signaling a change in the development mode, by which economic growth used to rely heavily on industry.
Ma Minglong, Director of Sipac, points out that at certain development stage, the foreign-invested enterprises will turn their attention to the regional functional services such as logistic, financial, technological, and education services.

By this understanding, SIP specially set up a logistics center, and introduced over 30 modern logistics enterprises. In a creatively way, SIP applied and built up a virtual airport code, which makes Suzhou Logistics Center the unique virtual port in China combining ocean, air, and land shipment so that all goods can be declared, inspected and cleared of customs without moving out of SIP.

Take the Japanese-invested Yokogawa Electrical Co., Ltd. for example, it would take the company a whole week to airship even a small component from Japan in the past, but now, the component, needed in the morning, can be delivered the production line in the very afternoon.

Catering to the superior clustering of manufacturing industries, Suzhou has given priority to industrial designing and technological research and development. The added value of service sector in SIP amounted to 17.9 billion RMB last year, which grew by 1.7%, and of the 80,000 new jobs, about a quarter belongs to the modern service industries.

March 20, 2007

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