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Viewing report
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China-Singapore Suzhou Industrial Park (including Suzhou Industrial Park Export Processing Zone)
China Knowledge Press, June 2011, Pages: 25
Suzhou Industrial Park, also known as Singapore-Suzhou Industrial Park or SIP, is rated “AAA” in its eight year since China Knowledge initiated its coverage on China’s industrial parks. The park is its seventeenth year since its inception in 1993 with high-level government from both countries that officiated the launch of this mega project. It has 80 sq km for development and has attracted many world-class manufacturers and largest multinational corporations.
In May 2011, SIP has attracted more than 300 potential small medium-size companies aiming to list in the stock exchanges. To meet the demand of new industries SIP has built facilities to meet the needs of companies in the bio- and nano-technology. The latter has resulted in the construction of Nanopolis Suzhou. On 24 May, the management launched the Suzhou International Fortune Square, a RMB 2.4 billion project located at the Hudong CBD with two buildings one at 164.8 and the other 230 meters tall.
“SIP is granted an in-principle approval for its application to list in the Shanghai Stock Exchange”, according to Ma Minglong, Executive Member of CPC Suzhou Municipal Committee and Secretary of Suzhou Industrial Park Party Working Committee, said in an interview with Singapore’s Chinese press. Once the China Securities Regulatory committee approved its listing it will have six months period to launch the IPO. More insights was further provided by Du Jianhua, the Vice Secretary of Suzhou Industrial Park Party Working Committee and Managing Director, that it aims to price at 30 times price-earning ratio offering RMB 10 per share to raise RMB 4.5 billion.
The present ownership structure is 52% owned by Chinese side and Singapore government taking 28%. It is expected that the latter share will reduce to 23% once listed in the exchange. There is also plan to list in the Singapore Stock Exchange by SIP. Located next to SIP is Suzhou New District, also AAA rated, has one of its subsidiaries listed in the Shanghai Stock Exchange valued above USD 1.2 billion as of 1 June 2011. Earlier, in 2004, SIP mulled its listing in China but aborted the plan due to its change of industry category from originally industrial park to industrial real estate developer.
By 2010, GDP of the park grew 14% from the previous year to RMB 133 billion, accounting for 14.5% of Suzhou’s total. It ranked third among the state-level economic and technological development zones in China, after Guangzhou Development District and Tianjin Economic-Technological Development Area (TEDA). In 2009, Suzhou IP gained value-added industrial output of about RMB 67.8 billion, about half of which is attributable to IT, electronics and related industries. In part because it is one of China’s manufacturing hubs for LCD panels and ICs, the output value of the IT and IC industries in the park contributed nearly 3% and 16% of China’s total IT and IC value in 2008, respectively.
Last year, the park’s export value hit US$34.3 billion, accounting for 42.1% of Suzhou’s total. The export value ranked second among the state-level economic and technological development zones in China, after Kunshan Economic and Technological Development Zone (Kunshan ETDZ). The main export products include electronic products and equipment. The export value of software amounted to US$800 million, accounting for 5.6% of China’s total.
By the end of 2010, more than 90 Fortune 500 enterprises had put money into 140 projects in SIP. The park has attracted companies including Siemens, Nokia, Fujitsu, Mitsubishi, Samsung, Daimler Chrysler, BP and ZF, the utilized FDI in the park topped US$1.85 billion, accounting for more than 22% of Suzhou’s total. The utilized FDI of the park ranked third among the state-level economic and technological development zones in China, after Tianjin Economic-Technological Development Area (TEDA) and Dalian Economic & Technological Development Zone.
The latest figures show that in the first half of 2010, value-added industrial output of Suzhou IP amounted to RMB 64.1 billion, up 27.16% year on year.
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