SIP recently announced the achievements it made in 2024 as the first cluster of foreign-invested headquarters in East China’s Jiangsu province.

Over the past one year, five enterprises in SIP were recognized as headquarters of multinationals by the government of Jiangsu, accounting for nearly 20% of the total of the province. The number of headquarters of multinationals recognized by the government of Suzhou reached 95, accounting for one third of the total of the city. 

Moreover, 15 city-level foreign-funded R&D centers were recognized, amounting the total number of such organizations in SIP to 81, which account for 30% of the total of the city.

A number of multinationals have brought new projects to SIP. For example, Roche Diagnostics signed the agreement to expand its manufacturing and R&D site, and Eli Lilly and Company invested US$200 million to improve its productivity in Suzhou.

More and more foreign-funded enterprises have benefited from the business supporting policies and practices piloted in SIP, such as integrated customs clearance for imported drugs, the senior professional title accreditation for biomedical engineering professionals and the white list mechanism for import of products for bio-pharmaceutical R&D.

Moreover, in 2024, SIP sent 98 teams consisting of 334 people to 24 countries and regions to seek cooperation opportunities, and improved its services and enhanced policy support for foreign-funded enterprises to set up headquarters.

Concurrently, services for expatriates were upgraded. Su-Pay, which was created in 2021 to allow Japanese and South Korean tourists to open an e-account for payment during their short stay in Suzhou, was upgraded to provide more convenience for people from overseas. The Suzhou City Terminal of Shanghai Airport Authority (AVINEX) in SIP got the IATA code “SZO”, becoming a terminal of international flights. And innovative freight stations and export channels increased for businesses to bring their products to overseas markets.

December 31, 2024