A joint project by the Chinese and Singaporean governments, the Suzhou Industrial Park is witnessing smooth and healthy development since its initiation more than six years ago, establishing itself as one of themodels in successful economic co-operation between China and foreign countries, Pan said.

Favourable conditions such as geographical location, investment environment and abundant human resources have attracted numerous overseas investors, including 37 of the world's top 500 companies, to build businesses there for a contracted value of US$8.6 billion by the end of April.

The success can partly be attributed to the good work of the park's administrative offices. Instead of a long application process, applicants find a brief, few-day process if all paperwork is in order.

So far, about 220 overseas enterprises and companies have settled into the park. Most are high-tech industries.

(China Daily 05/28/2001)