As a successful inter-governmental project between China and Singapore, SIP has accumulated valuable experience in construction and management of an industrial park. The state-owned enterprises in SIP have contributed a lot to the accumulation of such experience, and are now playing a leading role in rolling it out to other areas.
Suzhou-Suqian Industrial Park (SSIP) is the first industrial park developed based on SIP’s experience. Located in Suqian, a city in the northern part of East China’s Jiangsu province, it is one of the projects designed to promote balanced development across the province.
So far, state-owned enterprises in SIP, including Sungent Group and China-Singapore Suzhou Industrial Park Development Group Co Ltd (CSSD), have led or participated in the construction of 11 SIP-like industrial parks in different parts of the country.
At the same time, enterprises like New Era Group, Hengtai Holding and Suzhou Logistics Center have expanded their business outside SIP as an advisory agent, entrusted manager or a partner in project operation.
The state-owned enterprises are also playing a vital role in attracting investment and expanding international cooperation.
Sungent Group is joining hands with Singaporean companies Keppel and Surbana Jurong to build the China-Singapore Green Digital Hub in SIP’s Yangcheng Digital Valley, which is expected to be partly operationalized in 2027. It has also established a joint venture in collaboration with Temasek for the construction of Biosparc, an industrial park focused on life science.
Hengtai Holding and Singaporean real estate group CapitaLand have enhanced cooperation in developing and running commercial projects. Subsidiaries of CSSD and Singapore-headquartered EagleRE have jointly founded a joint venture to invest in and build green and low-carbon projects.
CSSD also established the Suzhou Industrial Park International Business Cooperation Centre (Singapore) in Singapore three years ago to serve as a bridge between Chinese and Singaporean enterprises. The center has helped promote the progress of a number of cooperative projects.
November 27, 2024
