Suzhou Industrial Park remains strong magnet to foreign investors

2020-07-31 17:32:00

Despite the impact of COVID-19 in the first half of this year, Suzhou Industrial Park achieved a GDP of 129.051 billion yuan, an increase of 2.1 percent year on year, and made remarkable progress in attracting foreign investment and boosting foreign trade.

During the period, the park realized foreign trade of 305.245 billion yuan, up 4.5 percent year on year. Among the foreign trade, the imports and exports in IC industry rose 13.24 percent year on year to reach $20.048 billion. Meanwhile, the park saw the registered foreign investment of $2.07 billion, a year-on-year growth of 149 percent. The paid-in foreign investment climbed by 196 percent to reach $1.28 billion in the six months.

The park has strengthened efforts to improve the environment of investment and trade, government service, innovation and entrepreneurship, and urban livability. At the same time, the park has made comprehensive efforts to promote epidemic prevention and control and assist companies to resume work. Measures such as tax relief, fee cut, financing service, and employee support have greatly enhanced investor’s confidence.

In recent months, a number of major projects have settled down in the park, where some foreign-funded enterprises also increased their registered capital or expanded production.