SIP, a cooperative project between the Chinese and Singaporean governments, now ranks among the world’s top high-tech industrial parks in terms of a set of indicators including per capita GDP, energy consumption per unit of GDP and R&D input, according to a report released at China-Singapore Suzhou Industrial Park 25th Anniversary Celebration-Development Report Conference held in Suzhou on Apr 12.

The report said, since its inception in 1994, SIP has seen a sharp increase of projects funded by about 5,000 enterprises from over 70 countries and regions, including many Fortune 500 enterprises like Siemens, Philips, Emerson and Samsung. Moreover, it has offered support to 309 Chinese enterprises in their investment in 53 countries and regions, and taken part in the construction of 12 industrial parks home and abroad. The report shows that SIP’s foreign investment in actual use has reached more than US$ 30 billion so far, while total imports and exports exceeded US$ 1 trillion.

On the other hand, with excellent conditions for R&D activities, SIP has attracted Harvard, Oxford, MIT, Cold Spring Harbor Laboratory and other overseas top-class schools and research institutes to set up their projects in the area. These projects are playing an important role in driving a fast development of emerging industries such as biomedicine, nanotech and AI in SIP and its surroundings.

At the same time, SIP has amassed rich experience in urban planning, economic development and public services based on a series of good practices borrowed from Singapore. The report records 110 regulations and policies that SIP has made in accordance with international norms and domestic conditions in moves to propel local economic, social and cultural development, and 172 reform practices including nearly 30 that have been rolled out to other places in the country.

Zhou Naixiang, member of the Standing Committee of CPC Jiangsu Committee and secretary of CPC Suzhou Committee, said, with continuously enhanced cooperation with Singaporean partners in the future, SIP is expected to set a better example for international and regional cooperation.