From the title of the sole National Demonstrative Base of Service Trade Innovation and the unique Demonstration Zone of Trade and Finance Cluster in Jiangsu Province, to the recognition as Jiangsu Provincial Demonstration Zone of Technology Financial Innovation and Demonstration Zone of Equity Investment in Jiangsu Province, Suzhou Industrial Park has already grown into a regional financial center.

Developing towards "the comprehensive business zone in eastern Suzhou", SIP has been recently implementing the "finance doubling growth plan" and "financial prosperity plan in next three years" and other strategies for transformation and upgrading, and exerted great efforts to promote the leap-forward development in the financial industry, thus forming distinctive pioneering advantages, which brings along the notable "Golden Economy" effect and propels the economic win-win.

Integrated development of diversified financial businesses
By the end of May 2015, SIP clustered 686 financial institutions, among which there were 4 regulatory bodies and industrial associations, 109 financial institutions and 573 quasi-financial institutions. Among all the financial institutions, there were 30 foreign-funded financial institutions and 42 bank branches (or above). In terms of the securities, there were 1 national HQ stationed in SIP and two Suzhou branches, and as for insurance industry, there were 2 provincial branches and 37 Suzhou HQs. Also, there were 8 functional HQs of financial institutions.

The statistics show that 90% of the bank branches and nearly 50% of insurance branches in Suzhou are stationed in SIP, and the concentration of foreign-funded financial institutions tops Jiangsu Province and it ranks the first in Jiangsu with respect to the number of foreign-funded banks. SIP has preliminarily formed the co-existence of multiple financial businesses such as banking, insurance and securities & futures, and the pattern of the diversified development of national, regional and local financial institutions, becoming one of the regions in Suzhou and even in Jiangsu with complete types, the largest number and the most intensive distribution of financial institutions. The concentration is notable and the financial prosperity evident.

Deepen the Sino-Singaporean financial cooperation
In October 2013, SIP obtained the consent to conduct the trial cross-border RMB business. In June 2014, the People's Bank of China allowed banks in Singapore to conduct cross-border RMB lending to companies in SIP, equity investment funds in SIP to conduct direct investment in companies in Singapore, companies in SIP to issue RMB bonds in Singapore, and individuals in SIP to conduct RMB remittance between China and Singapore for the settlement of current account transactions and direct investment in companies in Singapore. The trial project of SIP Sino-Singapore cross-border RMB business officially kicked off.

Different from the trial project policies in other regions, the SIP cross-border business adopts the negative-list management and regional mass-based control for the first time, and the borrowings by enterprises will no longer be subject to the external loan limit, and may be used as the entrusted loans for affiliates within the Group. After one year's exploration and practice, the RMB cross-border contracts by now have a balance of 2.72 billion yuan and withdrawal of 1.92 billion yuan, mainly invested to real economy including transportation, communication equipment, electronic devices and new materials. The financial channels in SIP are broadened, and the financial standards and innovation are improved.

In addition, Sino-Singaporean financial cooperation is expanding. Among the three banks headquartered in Singapore, Development Bank of Singapore opened a branch in SIP in 2006, OCBC Bank (Oversea-Chinese Banking Corporation Limited) opened its Suzhou office in October 2014, and United Overseas Bank entered SIP in February 2015. Soochow Securities accelerates its pace to set up an asset management subsidiary in Singapore and more financial institutions are making plans to benefit from SIP's China-Singapore cooperation platform.

Breakthrough by innovation and technology for financial industry
In terms of platform innovation, SIP has set up the 60-billion-yuan fund of funds with the largest size in China, Venture Capital Community for Global Experts, first integrated loan platform for technology-based SMEs, risk compensation capital pool with a total size of 100 million yuan, and the Venture Capital Guidance Fund with a total size of 600 million yuan, and it is planning to build the first policy-driven angel fund for technology-based companies.

With the on-going diversification of technological and financial businesses, 457 equity investment institutions have made their presence in SIP with the management capital exceeding 80 billion yuan; and more than 60 institutions have stationed in SIP such as technology sub-branches, technology insurances, technology petty loans, financing lease, business factoring and financing security. So far, they have supported over 600 technology-based SMEs in SIP and solved more than 2.5 billion yuan financing needs.