China (Jiangsu) Pilot Free Trade Zone, a new FTZ consists of three parts respectively in the cities of Nanjing, Suzhou and Lianyungang in East China’s Jiangsu province, was inaugurated on Aug 30. At the inauguration ceremony, four globally renowned companies including Microsoft, MTU Friedrichshafen GmbH, Sinar Mas and Hengli Group signed agreements to set up their projects totally worth RMB 60 billion in SIP where the Suzhou part of the Jiangsu FTZ is mainly based in. 

 

American tech behemoth Microsoft plans to erect a center to provide services that can help local enterprises speed up their business transformation, upgrading and innovation based on its advanced AI technologies. 

MTU, a German company that offers world-class commercial internal combustion engines, will set up a regional headquarters in the area.

Indonesian conglomerate Sinar Mas will build an industrial cluster focusing on such fields as biomedicine, AI, new-generation information technology and high-end equipment. 

Hengli Group, a Chinese multi-business company ranking among Fortune 500, will establish its global operation headquarters in it.