The Suzhou Industrial Park in east China's Jiangsu Province has so far approved more than 600 overseas-financed enterprises, with contracted overseas investmentexceeding US$10 billion.
Of all the projects, 45 percent are financed by European and American investors, 26 percent by Singapore investors, and 12 percent by people from Japan and the Republic of Korea.
Most of the overseas investment has been put into the high-techindustry, said Wang Jinhua, director of the park's administrative bureau, Friday.
The information technology sector alone absorbs 42.6 percent ofthe foreign-invested projects. The other projects involve precise machinery, bio-pharmaceutical medicine and new materials.
Wang said the park is expected to double the amount of foreign capital to more than US$20 billion in three years as more overseas investors will come to Suzhou to seek business opportunities after China becomes a member of the World Trade Organization.
The park is a joint project between the governments of China and Singapore launched seven years ago.
(eastday.com November 16, 2001)
