Taihu East Asian Entrepreneurs Forum kicks off in Suzhou
The first Taihu East Asian Entrepreneurs Forum was held at Suzhou Taihu International Conference Center yesterday. Over 630 guests from China and abroad participated in the main forum and other five sub-events.
With a theme of ensuring the smooth operation of East Asia’s industrial chain and closer cooperation, the forum promoted discussions to deepen industrial partnership, form a higher degree of industrial integration, facilitate exchange among enterprises, and enhance stability and competitiveness of industrial and supply chains.
Japan and South Korea remain the major source of foreign investment for Suzhou. According to statistics, the two countries are respectively Suzhou’s third and sixth largest source of foreign investment and have established 2,909 and 2,357 enterprises in the city by the end of 2020, accounting for 44.5% and 40% of Jiangsu’s total.
The amount of Japanese and South Korean capital actually utilized in Suzhou has respectively registered $13.47 billion and $5.3 billion dollars, accounting for 43.4% and 28.4% of the province’s total or 11.3% and 6.2% of the country’s.
●SIP, SND and Kunshan have become the major magnets for Japanese and South Korean investments in Suzhou.
Japanese and South Korean investments mainly go to such manufacturing areas as telecommunication, automobile and auto parts, equipment manufacturing, biomedicine and fine chemistry. Up to 57 Japanese and South Korean Fortune 500 companies, including Toyota, Panasonic, Sumitomo Group, Samsung, Hyundai, POSCO, etc. have settled in Suzhou, and 22 Japanese and South Korean enterprises have been certified as Jiangsu provincial-level regional headquarters.
Besides, Japan and South Korea are also important investment destinations for Suzhou companies. Currently, Suzhou companies have invested in 87 projects in Japan and the investment totals $364 million dollars, taking up 21.6% and 30.1% of the province’s total respectively.
The number of projects invested by Suzhou companies in South Korea and the total investment have reached 63 and $160 million dollars respectively, or the province’s 31.2% and 32.7%.
●Over 10,000 Japanese and South Korean employees have lived a satisfying life in Suzhou.
“I’ve been to many places, but Suzhou provides the greatest services in industry, life, education as well as medical treatment, shopping, cultural entertainment.” said a Japanese entrepreneur who gave a big thumbs-up to Suzhou’s environment for investment.
In the future, Taihu East Asian Entrepreneurs Forum will be held every two years and listed as Jiangsu’s major international exchange platform together with Jiangsu Development Summit and World Intelligent Manufacturing Conference.