Sino-Swiss Industrial Park sets up shop in Changzhou National Hi-Tech District

CHANGZHOU, China, Sept. 30, 2017 /PRNewswire/ -- On September 28, the Centre for International Economic and Technological Cooperation, a government unit under the aegis of China's Ministry of Industry and Information Technology, signed a strategic partnership with the municipal government of Changzhou, formally kicking off the construction of Sino-Swiss Industrial Park in Changzhou National Hi-Tech District.

The establishment of the park was the result of the Changzhou CPC Municipal Committee's and the Changzhou city government's proactive engagement in an initiative to strengthen ties between China and Switzerland. The initiative also helps to advance both "China Manufacturing 2025", the Chinese government's plan to move the country from the role as the world's low-priced factory floor to one whose industrial leaders stand head and shoulders with their counterparts in the world's developed countries, and Switzerland's "Industry 4.0", the Alpine country's plan to take the lead across Europe in completing the fusion of industry and digitisation.

A business, science and education zone based on a Swiss model will be built with Xinlong International Business City, a commercial complex, as the core, while a roughly 65-hectare plot of land zoned for industrial use located in neighbouring Binjiang Economic Development Zone is where a grouping of the park's planned manufacturing facilities will be built. The combination vastly facilitates a collaborative approach to the recruiting of new projects, innovation in scientific research, efficiency in the use of energy and improvements in environmental protection, as well as education and humanities-oriented projects.

Changzhou National Hi-Tech District is home to a cluster of Swiss manufacturing facilities and remains an important investment destination for Swiss companies seeking to set up operations in the Yangtze River Delta. Currently, 14 top Swiss companies have set up shop in the district, among them, Mettler Toledo, Rieter, Givaudan, FoamPartner Bock, GF Machining Solutions and V-Zug, with an aggregate investment reaching US$420 million. The district has attracted investors from 67 countries and regions worldwide, with 1,660 foreign-owned firms having located a facility there, including more than 50 of the Fortune 500 firms. In 2016, the district contributed 115.5 billion yuan to China's GDP and handled US$10 billion in foreign trade. As of the end of 2016, Changzhou had granted approval for the establishment of facilities for 27 Switzerland-invested companies.