has over the last two decades honed its reputation as a modern, open development zone and a model of international cooperation.
Central to its development moving forward is the ‘One Zone and Two Centers’ concept that sees the establishment of the National Biotechnology Innovation Centre, the National Third-generation Semiconductor Technology Innovation Centre and the National Pilot for Innovation and Development of New Generation Artificial Intelligence.Suzhou Industrial Park is fast becoming a hub for emerging industries like biomedicine.
Within China, Jiangsu province – the home of Suzhou Industrial Park – ranks second highest in its furthering of the digital economy, which exceeded four trillion yuan and accounted for over 40 per cent of the province’s gross domestic product. The growth of the digital economy has been further accelerated by the pandemic, and has transformed traditional industries and improved service capabilities in the province.
To date, Singapore has accumulated close to 3,700 investment projects in Jiangsu and has invested US$26.66 billion. In turn, Jiangsu has invested in 290 Singapore projects, with a contractual investment amount of US$3.46 billion. Ms Liu Hua, vice chairman of Suzhou Industrial Park Administrative Committee, expressed her desire for Suzhou Industrial Park to continue to deepen China-Singapore cooperation with the establishment of the Singapore International Business Cooperation Centre, which was unveiled in February 2021.