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Suzhou Industrial Park Sees Momentous Growth
Latest statistics show that in the first half this year, Suzhou Industrial Park of Jiangsu Province attracted contracted foreign capital of US$ 502 million and saw an increase of paid-in foreign investment of US$ 400 million. It registered GDP of 5.987 billion yuan, up 62 percent over the same period last year, showing a strong momentum of growth.
By the end of June, said Park had reportedly attracted contracted foreign capital and actually utilized foreign funds totaling US$ 7.186 billion and US$ 3.757 billion respectively.
In the first half of this year, many foreign-funded enterprises in the Park went into operation. Infrastructures witnessed continual improvement. Construction of export processing districts and software technology gardens was undergoing rapid progress. Chen Deming, mayor of Suzhou and secretary of Communist Party Working Committee of Suzhou Industrial Park, said that the momentous development of the Park benefits from the improvement of the macro-economic environment. The application of Singapore's experiences in the Park's development and construction according to the requirements of the "Memorandum of Understanding" signed between Suzhou and Singapore in June, 1999 is also an important reason for the success.
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