The SIP Working Group for Operation of China (Jiangsu) Pilot Free Trade Zone Suzhou Area held its second plenary meeting on Aug 13 to look back on the development of China (Jiangsu) Pilot Free Trade Zone Suzhou Area since its inception last September and make deployment for future work.
The event included a roundup of the FTZ’s conditions. It is revealed that over 130 reform and innovation measures have been carried out in the FTZ over the past one year and, based on that, 62 practices in institutional innovation have been recognized as exemplary practices for duplication outside SIP.
Moreover, the FTZ has seen remarkable achievements in economic development during this period. The total overseas investment by the FTZ-based investors reached US$ 247 million, while total imports and exports achieved RMB 409.168 billion. This is in addition to about 200 foreign-invested enterprises newly founded in the zone, and 62 overseas investment organizations established by organizations in the zone.
Wu Qingwen, secretary of CPC SIP Working Committee and the first team leader at the working group, spoke at the event. He specified the future tasks for the development of the FTZ, and emphasized its role in bolstering biomedicine, high-end manufacturing and other SIP’s pillar industries.