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27 SIP Enterprises Receive Support Funds

On December 29,Suzhou Municipal Government held 2010 annual conference for allocating Special Funds of Industrial Restructuring and Upgrading. In the current year a total amount of 48.55 million yuan has been used for supporting 101 projects of enterprises in Suzhou, among which 27 enterprises are in Suzhou Industrial Park (SIP), including Higer Bus Company Limited, Fairchild Semiconductor (Suzhou) Co., Ltd. and Jiangsu Sujing Purification Group Co., Ltd., receiving 14.05 million yuan funding support totally in the fields of major projects of new-emerging industries, technological renovation and industrialization of new products. Both the number of recipient enterprises and the sum of the funds of SIP rank the first among all of the cities and districts of Suzhou.

Special Funds of Industrial Restructuring and Upgrading by Suzhou Municipal Government is mainly provided to support the cultivation of new-emerging industries with independent intellectual property rights and independent brands, R&D of enterprises, products incubation and trademark cultivation. The government funds are established to encourage enterprises to increase input in scientific and technical innovation, to build brand names, and to involve in merging and reorganization actively, and to conduct and stimulate more social capital to invest into new-emerging industries to form diversified investment pattern by government, enterprises and society to accelerate industrial restructuring, optimization and upgrading in order to promote development of strategic new-emerging industries in Suzhou by leaps and bounds.

December 31, 2010

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