AmCham Shanghai’s Trade and Investment Center hosted an Industrial Park Series session with the Su-Tong Science and Technology Park (STPAC) on Tuesday, April 19 at the AmCham Shanghai Conference Center to discuss the case for U.S. investment in the industrial park.
Representatives present from the Su-Tong Science and Technology Park included Huang Xiaofeng, Deputy Director of STPAC, Jin Feng, Deputy General Manager of the China-Singapore Suzhou Industrial Park Development Company (CSSD) Nantong Branch and Cindy Yin, Vice President of CSSD.
According to introductions from Director Huang and Deputy General Manager Jin, the Su-Tong Science and Technology Park, launched in 2009 is a joint cooperation between the Singapore government, Jiangsu government, as well as Nantong and Suzhou and is targeted to be a “brand new town of Nantong”, a coastal city of 7.3 million people at the intersection of the Yangtze River and the East China Sea with total GDP ranked fourth in Jiangsu province at 610 billion RMB, with a GDP growth rate at 9.5% (2015), and urban disposable income per capita of RMB36,440 according to official statistics. Pillar industries include textile, shipbuilding, electronics, machinery, fine chemicals, and food. The park is located within 130 kilometers of Pudong Airport and within 80km of Suzhou.
The government representatives also commented that the advantages of investing in STPAC included STPAC’s affiliation with the Suzhou Industrial Park, a successful case of urban development that STPAC officials could draw from for experience, a large supply of human resources in the area, including 6 universities, 29 vocational schools, and 50,000 yearly graduates, as well as incentive schemes for manufacturing investments, including tax rebates, rent subsidies, as well as other rewards.
Existing investors in the park represented included AmCham Shanghai member Nolan Howell, General Manager, Shaw Carpet (China), Julian Chu, General Manager, Devon Medical Products (Jiangsu) and Xue Xiaolu, Chairman of Foresight Investment (Shanghai). Howell discussed Shaw’s site selection process and major factors for selecting STPAC, including location, incentives, local government management, as well as operational cost projection. Chu discussed Devon’s site selection process for their manufacturing base for export, including the ease of setting up in the park. Xue talked about the quality of government service in the park in relations to helping multinational corporations feel secure about manufacturing compliance and standards.
To learn more, please contact Jonathan Shyu or visit the Chamber’s Industrial Park listing for STPAC.