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Suzhou New District to build HQ park for listed companies

(chinadaily.com.cn) | Updated : 2018-07-05

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Representatives from Suzhou New District and Hengtang subdistrict sign a cooperation agreement on the establishment of a headquarters park for listed companies in Hengtang subdistrict on July 3. [Photo/WeChat account: snd-szgxqfb]

Suzhou New District is set to construct a new headquarters park for listed companies in the district's Hengtang subdistrict, according to an announcement made on July 3.

Covering an area of approximately 1,070 mu (71 hectares), the industry park will house 60 buildings with a projected construction area of 230 hectares, and it is expected to be completed within five years.

Its first phase, the core area of the headquarters park, covers 480 mu with a building area of 51.7 hectares, and construction will start in the latter half of this year.

The park hopes to attract amongst others the regional headquarters of listed Fortune 500 companies, and of listed unicorn companies, a privately held startup company with a current valuation of $1 billion.

Xu Chunhua, director of the headquarters park, said that a five-star hotel, a high-end worker department, an exhibition center, a service center and other supporting facilities will be built in the park to offer these companies a one-stop service.

The Suzhou New District has also released details of preferential policies to attract companies to locate their headquarters in the park.

A one-time subsidy of 2 million yuan ($300,000) will be awarded to companies who settle in the district and a subsidy, equivalent to 80 percent of the local retained portion of individual income tax, will be granted to their top managers and highly-skilled tech workers. These companies can also enjoy financial support in purchasing or renting office buildings from the district.

To date, the upcoming park has attracted 23 companies from the fields of new generation information technology, new energy and medical devices.

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A design sketch of the upcoming headquarters park for listed companies. [Photo/WeChat account: snd-szgxqfb]

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