Inside Suzhou Industrial Park’s next chapter of innovation and lakeside living

Located in eastern Suzhou, Suzhou Industrial Park (SIP) has grown into one of China’s most dynamic districts. Once reclaimed marshland, SIP – home to Jinji Lake, Dushu Lake and Yangcheng Lake – is now a thriving 278 sq km hub shaped by steady economic progress and a forward-looking approach to urban development.

Developed in 1994 as a landmark China-Singapore intergovernmental project, SIP has become both a symbol of bilateral cooperation and a leading example of innovation-led growth.

The district is now entering a new phase of development, strengthening global connectivity while cultivating industries and experiences geared to the future.

EMBRACING GLOBAL OPPORTUNITIES

SIP is broadening its international engagement in line with the latest China-Singapore cooperation framework and the policy measures introduced during its 30th anniversary.

To date, it has attracted more than 5,200 foreign-invested projects, with US$42 billion (S$54.4 billion) in actual utilised foreign capital. It is also recognised as Jiangsu’s first “Cluster Zone for Multinational Corporation Headquarters Economy”, underscoring its role as a strategic base for global companies within China.

A favourable and open business environment has helped sustain this momentum, enabling SIP to draw global talent that drives innovation and enterprise. Multinational firms have established research and development (R&D) centres, sales hubs and distribution operations across the district.

In 2023, the Suzhou Industrial Park Administrative Commitee received the United Nations Conference on Trade and Development’s Investment Promotion Award – the only recipient from China that year.

The district’s outward connectivity is growing in parallel. More than 700 SIP enterprises have expanded into over 60 countries and regions, aided by streamlined policies, cross-border initiatives and improved logistics links.

The Shanghai Airport-Suzhou Advanced Cargo Station – situated within SIP’s comprehensive bonded area, a designated customs zone – has further improved export processing efficiency. It has cut logistics timelines, lowered costs by nearly 30 per cent and improved access to overseas markets. 

REACHING NEW HEIGHTS IN INNOVATION

As SIP advances globally, it is accelerating the development of key industries under its “2+4+1” industrial framework. This involves integrating two pillar industries – new-generation information technology and high-end equipment manufacturing – with four emerging clusters: biomedicine and healthcare, nanotechnology applications and new materials, artificial intelligence (AI) and digital industries, as well as new energy and green industries. A modern services sector supports this ecosystem.

In the first three quarters of 2025, the total output value of industries above designated scale reached 540.3 billion yuan, with total profits increasing 22.6 per cent year-on-year. Output from high-tech manufacturing contributed 262.1 billion yuan, a 7.8 per cent increase. The two pillar sectors – equipment manufacturing and electronic information – generated a combined 402.6 billion yuan, up 4.2 per cent, while the output value from four emerging industries totalled 422.1 billion yuan, a 6 per cent rise. 

Its digital economy is on a similar upward trajectory. SIP is now home to more than 1,800 AI-related enterprises, contributing to an industry that has already surpassed the 100 billion yuan mark.

Several SIP-based firms – including AISpeech, Tongcheng Travel and Patsnap – have secured Cyberspace Administration of China’s (CAC) filings for generative AI services and deep-synthesis algorithms. Their accreditation reflects SIP’s ability to nurture companies at the forefront of China’s digital transformation.

The innovation ecosystem is further bolstered by bilateral research platforms such as the China-Singapore Planning Innovation Research Centre, China-Singapore Green Sustainable Development Research Centre and the China-Singapore Joint Innovation Lab for Sustainable Smart Parks. These centres advance collaborative R&D and contribute to setting standards in sustainable urban development. 

AN URBAN RETREAT 

Beyond business and technology, SIP is emerging as a cosmopolitan micro-getaway. Thanks to its proximity to major cities – just 20 minutes from Shanghai by high-speed train and within 4.5 hours from Beijing – it is a convenient side trip for regional travellers. 

Modern malls, lakeside leisure spots and cultural venues bring a contemporary counterpoint to Suzhou’s traditional water towns. At the heart of this is Jinji Lake, which offers a range of attractions that blend retail, culture and recreation.

Suzhou Center Mall stands out with its broad mix of fashion and lifestyle brands, while Eslite Spectrum Suzhou adds cultural depth through its bookstores, design-forward retail and creative workshops. Along the lakeside promenade, visitors enjoy scenic walking and cycling paths with open views of the skyline.

SIP also champions the arts. Suzhou Arts Centre, the district’s main cultural venue, hosts a rich line-up of theatre, dance and international touring productions, while a network of “Su-style art halls” offers exhibitions, performances and community programmes rooted in Suzhou’s artistic identity.

In recent years, SIP’s Olympic Sports Center has hosted a range of international and national events, including curling, badminton and football matches, as well as hundreds of concerts. The Peninsula has staged international tennis tournaments such as the WTA 125 and ATP Challenger 75.

Anchored by innovation-led industries and complemented by modern retail, leisure and cultural spaces, SIP provides an accessible way to experience the region’s economic vitality and contemporary charm.

Discover more ways to explore Suzhou Industrial Park.