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20 years on, Suzhou Industrial Park turns to innovation for 2.0 upgrade
20 years on, Suzhou Industrial Park turns to innovation for 2.0 upgrade
A joint venture between China and Singapore that began 23 years ago, it formally entered a new stage of development in September 2015 when the State Council of the People’s Republic of China approved the SIP’s proposal to be the first experimental zone on opening-up and innovation in China.To get more Suzhou City, you can visit shine news official website.
More recently, in November, Singapore and Chinese officials, led by Jiangsu Governor Wu Zhenglong and Singapore Finance Minister Heng Swee Keat, met at the meeting of the 11th Singapore-Jiangsu Cooperation Council to discuss new areas of collaboration in the coming year.
Over the past two years, a new phase of the SIP, SIP 2.0, has been emerging. The incredible transformation that the SIP has undergone in recent years is the story of how a 20-year-old industrial park can pivot to rejuvenate its economy and revitalise its workforce.
In response to Deng Xiaoping’s call for China to learn from other countries, especially Singapore, during his famous Southern Tour of early 1992, the Chinese government under the leadership of President Jiang Zemin and the Singapore government under the leadership of Senior Minister Lee Kuan Yew and Prime Minister Goh Chok Tong reached an agreement on Feb 26, 1994 to establish the SIP.
The SIP covers an area of 278 sq km, of which the China-Singapore cooperation area makes up 80 sq km. The total population of the SIP is 1.1 million, including some 807,800 residents.
Since the 1990s, the SIP has expanded rapidly, greatly contributing to the city of Suzhou’s development. In its first decade, the SIP’s gross domestic product (GDP) surged from 1.1 billion yuan (US$170 million) in 1994 to 36.5 billion yuan in 2003, a level comparable to Suzhou’s GDP in 1993. In other words, the SIP doubled Suzhou’s GDP in ten years.
Since then, the SIP has continued to grow exponentially, reaching a GDP of 190 billion yuan in 2013, almost the level of Suzhou in 2002, reproducing another Suzhou in another decade.
During the same period, the SIP’s budgetary income increased 962 times, from 21.5 million yuan in 1994 to 20.7 billion yuan in 2013; the SIP’s GDP per capita grew from less than US$800 in 1994 to US$41,000 in 2013.
While based on Singapore’s model of urban planning, economic and social management and green development, the SIP developed its own brand of a modern metropolis with a population of more than one million from scratch within two decades.
From farmland of about two square kilometres in Wu Xian (now Wuzhong District) in 1994, the SIP has morphed into a modern city with a high-tech industrial park at its core, a prosperous population, and a green environment.
A joint venture between China and Singapore that began 23 years ago, it formally entered a new stage of development in September 2015 when the State Council of the People’s Republic of China approved the SIP’s proposal to be the first experimental zone on opening-up and innovation in China.To get more Suzhou City, you can visit shine news official website.
More recently, in November, Singapore and Chinese officials, led by Jiangsu Governor Wu Zhenglong and Singapore Finance Minister Heng Swee Keat, met at the meeting of the 11th Singapore-Jiangsu Cooperation Council to discuss new areas of collaboration in the coming year.
Over the past two years, a new phase of the SIP, SIP 2.0, has been emerging. The incredible transformation that the SIP has undergone in recent years is the story of how a 20-year-old industrial park can pivot to rejuvenate its economy and revitalise its workforce.
In response to Deng Xiaoping’s call for China to learn from other countries, especially Singapore, during his famous Southern Tour of early 1992, the Chinese government under the leadership of President Jiang Zemin and the Singapore government under the leadership of Senior Minister Lee Kuan Yew and Prime Minister Goh Chok Tong reached an agreement on Feb 26, 1994 to establish the SIP.
The SIP covers an area of 278 sq km, of which the China-Singapore cooperation area makes up 80 sq km. The total population of the SIP is 1.1 million, including some 807,800 residents.
Since the 1990s, the SIP has expanded rapidly, greatly contributing to the city of Suzhou’s development. In its first decade, the SIP’s gross domestic product (GDP) surged from 1.1 billion yuan (US$170 million) in 1994 to 36.5 billion yuan in 2003, a level comparable to Suzhou’s GDP in 1993. In other words, the SIP doubled Suzhou’s GDP in ten years.
Since then, the SIP has continued to grow exponentially, reaching a GDP of 190 billion yuan in 2013, almost the level of Suzhou in 2002, reproducing another Suzhou in another decade.
During the same period, the SIP’s budgetary income increased 962 times, from 21.5 million yuan in 1994 to 20.7 billion yuan in 2013; the SIP’s GDP per capita grew from less than US$800 in 1994 to US$41,000 in 2013.
While based on Singapore’s model of urban planning, economic and social management and green development, the SIP developed its own brand of a modern metropolis with a population of more than one million from scratch within two decades.
From farmland of about two square kilometres in Wu Xian (now Wuzhong District) in 1994, the SIP has morphed into a modern city with a high-tech industrial park at its core, a prosperous population, and a green environment.
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