Suzhou Investment News: January 2008

Monday, January 21, 2008 1:31
Comments Off on Suzhou Investment News: January 2008

This week brings a new addition to the regional investment news from Suzhou.

Located just an hour away (see profile here) from Shanghai, Suzhou has become one of the most favored places in the Yangtze Delta to invest. A drive through Suzhou and SIP and one will quickly see why they have been so successful: cultured gardens, wide roads, new infrastructure, world class warehousing from Prologis, new apartment blocks by the dozen.. and that is just the city itself.

With a recent client in Suzhou, I can also attest to the fact that in addition to having the hardware in place, Suzhou also has the software in place. SIP officials are well seasoned, know how to present their park, take the time to understand what the clients are looking for, and then make their pitch.

Once invested, there is even a one stop shop for firms to manage the daily transactions within the park (customs, taxes, HR, etc).

With that, I offer the inagural newsletter.


Marketing Status

  • Total 3101 projects with total contractual foreign investment of US$ 31.68 billion
  • 39 new projects with total contractual foreign investment of US$ 395.02 million by the end of December, 2007

Projects Highlight

Company

Product/Service

Country

Excelerate Technology (China) Co., Ltd

BPO/ITO

HK

SuZhou Sekisui Plastics Co.,Ltd

Fine Chemical

Japan

Jiu Guang Department Store (Suzhou) Co., Ltd

Department Store

HK

Foundation-layings & Openings

IBK of Korean held an opening ceremony for its Suzhou Branch in SIP on Dec. 6. This is the second Korean-funded bank and the 7th of foreign-owned banks in Suzhou. The other six are HSBC, Standard Chartered, Bank of East Asia (BEA), Citibank, Sumitomo Mitsui Bank and Wooribank.

Johnson&Johnson (Suzhou) Medical Equipment Co., Ltd opened in December with a total investment of USD$140,it is the biggest Johnson&Johnson factory in Asia.

Big Events at SIP

SEPG (software engineering process group) China 2007 Conference, unveiled at Suzhou Science Park on Dec. 12 under joint sponsorship of Municipal Government of Suzhou and Carnegie Mellon University of USA, attracted over 300 representatives from 130 domestic and overseas enterprises. The theme of the current 3-day conference is “gather strength by improvement, and upgrade engineering and service performance”.

SIPUD Yangcheng Lake Peninsular Development Co., Ltd., a subsidiary of SIPUD Group, signed an MOU with CUZCO Group of Korea at seoul on joint development of the theme park on the Yangcheng peninsular.

Suzhou Software Testing Center Co., Ltd. passed the evaluation on CMMI (Capability Maturity Model Integration) Grade-3 on Dec. 22, and became the first software service provider with SMMI quality assurance in China.

Ministry of Science and Technology recently approved and allocated financial assistance to the first international cooperation project in SIP, the “geographical information system based on comprehensive management of pipeline networks of 3D digital modules”, conducted through cooperation between Suzhou Digital Urban Engineering Research Center Co., Ltd. and German Geograt Information Systems Co., Ltd.

The first Ipv4/v6 2-port Ethernet switch chips, the “Bay” chips, were successfully produced through research and development at Centec Networks Company in SIP with complete independent intellectual property right

Sun Hung Kai Properties of Hong Kong, in alliance with SIP Genway Group, acquired a well-located land parcel in SIP at the price of 1.54442 billion RMB at public bidding on Dec. 6, which signals the trend of forming alliances among real estate tycoons in land acquisition in Suzhou

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