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FTZ makes impressive progress in 2020

(english.snd.gov.cn) | Updated : 2021-02-04

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Cargo is shipped from Suzhou New District to Europe via railway. [Photo/WeChat account: snd-szgxqfb]

The Integrated Free Trade Zone in Suzhou New District made some impressive achievements in 2020, local media outlets reported.

The total industrial output of enterprises above designated size in the zone was valued at 69.4 billion yuan ($10.8 billion). The zone also saw 400 million yuan in fixed asset investment, growing 22 percent year-on-year, while its profit-making service industry achieved an operating income of 1.05 billion yuan, up 38.5 percent year-on-year.

The zone brought in 61 projects in 2020, of which 22 involved industrial investment and 39 involved investment in the service industry. A total of 343 foreign companies began operating in the zone, bringing in $3.98 billion in investment.

The zone has also set up five centers in an effort to boost high-quality development.

The first is a processing and manufacturing center focusing on the integration of information technology, auto parts, and high-end manufacturing industries.

The second is an innovation center that will also open soon and has already established cooperative ties with innovative research platforms like the Suzhou Electroacoustic Industrialization Base and Suzhou Innovation Park.

The third is a testing and maintenance center supported by Maintek Computer and General Dynamic Aero Tech, two industrial giants offering targeted services to customers from across the globe.

The fourth is a logistics and distribution center offering fast and convenient logistics channels to Europe and Southeast Asia, with the value of all goods shipped through the channels surpassing $1.38 billion in 2020.

Last is a sales and service center that has rolled out a series of preferential policies to help products made in Suzhou find more international buyers.

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