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Suzhou New District proves attractive for foreign investment

(chinadaily.com.cn) | Updated : 2019-10-09

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Officials and business representatives celebrate the signing of cooperation agreements at a promotional event for Suzhou New District in Melbourne, Australia on Sept 24. [Photo provided to chinadaily.com.cn]

Suzhou New District attracted 15.38 billion yuan ($2.15 billion) in investment between January and September, fulfilling 86.8 percent of its annual goal for the year.  

The actual use of foreign investment reached $530 million yuan during the same period, exceeding the annual target by 21.9 percent.

A number of cooperation agreements were recently signed at promotional conferences held in Australia and Japan relating to medical treatment, new materials and new generation information technology.

Construction on 24 key projects with a total investment of 115.4 billion yuan has also started.

The projects include a new generation information technology industrial park worth 6 billion yuan, a listed companies’ headquarters cluster covering about 20 hectares, and the Suzhou branch of Nanjing University, which is expected to enroll 20,000 students upon completion.

A manufacturing plant for communication base station equipment with an investment of 1 billion yuan is also under construction. The plant will produce five million units of equipment annually after starting operations. Its annual output value is expected to top 2 billion yuan.

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