Suzhou park logs 25 years of progress

A total of 150 new projects signed up or broke ground on Friday to mark the 25th anniversary of the China-Singapore Suzhou Industrial Park, showing the aim of the governmental cooperation project for a higher level of industrial upgrading and further optimization.

Of the newly signed projects, 35 are research and development centers or regional headquarters. The total investment comes to about 50 billion yuan ($7.4 billion), with estimated annual sales exceeding 100 billion yuan once put into operation.

Most of the new projects specialize in biochemical, artificial intelligence, nanometer technology and high-end equipment manufacturing. French biopharmaceutical giant Sanofi announced it is setting up its first Asian research institute, while Johnson & Johnson plans to set up an Asia Pacific open innovation center.