Sept. 8 – The value of traded goods processed through Customs at the Suzhou Industrial Park reached US$66.3 billion in the first eight months of 2010 for an increase of 60 percent over the same period last year, according to figures released by the park on Monday.

There are currently over 1,000 high-tech enterprises present in the Suzhou Industrial Park separated into different clusters like bio-pharmaceutical and nano-photoelectrics. Anchor tenants include Biobay and the CAS Suzhou Institute of Nanotechnology and Nano-bionics.

Last year, SIP instigated a “Three plus Five” plan to cultivate three dominant industries: electronics and IT, machinery manufacturing, and modern service industry. These dominant industries will be joined by the following five emerging industries: bio-pharmaceuticals, nano-photoelectric and new energy, unified communications, software and animation, and eco-environmental protection.

The park plans to set up five million square meters for new companies and start-ups. Additionally, SIP plans to invest RMB10 million and incubate 20 independent enterprises and 10 listed scientific and technological companies.

For more information or advice about establishing a business in the Suzhou Industrial Park, please contact Dezan Shira & Associates at suzhou@dezshira.com.

Related Reading

To learn more about the current business environment in Suzhou, one of the Yangtze River Delta’s emerging cities, please download the complimentary China Briefing Suzhou City Guide.