China, Singapore mark 15th anniversary of Suzhou Park

China and Singapore celebrated the 15th anniversary Tuesday of their largest cooperative project, the Suzhou Industrial Park, in east China's Jiangsu Province.

Chinese Vice Premier Wang Qishan (2nd R) and Singapore's Deputy Prime Minister

Wong Kan Seng (2nd L) cut the ribbon for a showcase of the achievements and

development of the Suzhou Industrial Park in Suzhou, east China's Jiangsu Province,

on May 26, 2009. The Suzhou Industrial Park is an iconic joint project between

China and Singapore which started in 1994. (Xinhua Photo)

Chinese Vice Premier Wang Qishan attended the commemoration together with Singaporean Minister Mentor Lee Kuan Yew and Deputy Prime Minister Wong Kan Seng.

Calling the park a product of friendly cooperation, Wang said it had become an important window for China's opening up.

Chinese Vice Premier Wang Qishan (R, front) talks with Singapore's Minister Mentor

 Lee Kuan Yew (C, front) and Singapore's Deputy Prime Minister Wong Kan Seng

(L, front) during their meeting in Suzhou, east China's Jiangsu

Province, on May 25, 2009. (Xinhua Photo)

Founded in February 1994, the park lies in the center of the Yangtze River Delta and at the juncture of China's coastal economic open areas.

Its chief industries include electronics, bio-pharmaceuticals and new materials, which account for 75 percent of its gross output.

Over the past 15 years, the park maintained an average annual economic growth of 30 percent, paid more than 100 billion yuan (14.6 billion U.S. dollars) in taxes and utilized foreign funds of nearly 16 billion U.S. dollars.

Chinese Vice Premier Wang Qishan (R) shakes hands with

Singapore's Minister Mentor Lee Kuan Yew during their

meeting in Suzhou, east China's Jiangsu Province,

on May 25, 2009. (Xinhua Photo)

Currently, the park has more than 12,000 companies, including more than 3,000 foreign enterprises.

Singapore "ignited" the engine of the Suzhou Industrial Park, but it was the Chinese government who had made it run in an active way, Lee said.

Lee said the park served as a platform for Singapore and China to share economic development experience.

Chinese Vice Premier Wang Qishan (R) shakes hands with Singapore's Deputy

Prime Minister Wong Kan Seng during their meeting in Suzhou, east China's

Jiangsu Province, on May 25, 2009. (Xinhua Photo)

An eco-city in the northern metropolis of Tianjin -- another cooperation project between China and Singapore -- started construction last September.

The eco-city, 40 km from downtown Tianjin and 150 km from Beijing, will be guided by Singapore's use of solar and wind power and rain recycling technologies. Singapore will also share with Tianjin its expertise on waste water treatment and desalination.

Vice Premier Wang said the global downturn had posed severe challenges to China's economy, but the government' responses had started to have an effect.

China was confident of overcoming the crisis, he said.

Originally Published on Chinese Government's Official Web Portal

May 27, 2009