In his address to Chinese members of the board of directors with the China-Singapore joint coordination council of Suzhou Industrial Park, Li expressed satisfaction with the rapid progress and rich experience the park has achieved in its nine years of existence.

Thanks to the close cooperation between China and Singapore, and to the strong support from council members and relevant local governmental departments, Suzhou Industrial Park has become increasingly attractive to investors due to its beautiful scenery, sound scientific planning, comprehensive infrastructure and favorable investment environment.

In 2002, the park reported a total gross domestic product of 25.2 billion yuan (3 billion US dollars) and a revenue of 3.3 billion yuan (399 million US dollars).

The park also pulled in 5.5 billion US dollars of foreign investment capital last year, with a big number of foreign-invested projects under construction.

Li said that as an important showcase of the results of China's reform and opening up policies, the park serves as a model for the promotion of China's economic cooperation and exchanges with other countries.

The vice-premier pointed out that the park is entering a new era of development, requiring it to make new breakthroughs in innovation, reform and opening up.

One of the most important moves Li mentioned is to streamline governmental functions to enhance administrative efficiency and eliminate unnecessary regulations and procedures currently impeding the development of modern productive forces and cultures.

Li stressed the development of the high-tech industry protected by intellectual property, adding that high technologies should be regarded as the backbone of the park.

He said that special attention should be given to various service trades, especially the development of chain store commerce and modern logistics.

The vice-premier urged the park to step up the exploration of international markets to expand the export of large complete sets of equipment, while maintaining stable growth in the export of common consumer goods and electromechanical products.

He also called the park to strengthen the training and introduction of professionals skilled in technological innovation and senior management to provide solid intellectual support for its future development.

(Xinhua News Agency February 27, 2003)