Three decades of visionary partnership
Map: China-Singapore Suzhou Industrial Park Development Company
The origin of the SIP can be traced back to November 1978, when Chinese leader Deng Xiaoping's visit to Singapore left a lasting impression of Singapore's economic progress on him.
Photo: BT FILE
First decade
1992
February
During his tour of Southern China, Deng Xiaoping stated that China should learn from Singapore.
“Society in Singapore is quite orderly. They managed things very strictly. We ought to use their experience as a model,”
said Deng.
September
Then senior minister Lee Kuan Yew visited China to formalise an intent for a bilateral project.
1994
Feb 26
China-Singapore Suzhou Industrial Park was formalised through two inter-governmental agreements and a third private sector agreement. The project signing was attended by then prime minister Goh Chok Tong, SMr Lee Kuan Yew, Chinese premier Li Peng, and vice-premier Li Lanqing.
Photo: BT FILE
May 12
Commencement of the project
Photo: BT FILE
September
The project saw the signing of agreements by its first batch of 14 international investors.
Source: The Business Times, Sep 15, 1994
1997
Dec 4
At a press conference with the Chinese media in Suzhou, SM Lee publicly complained that the provincial authorities in Suzhou had established a rival industrial park, Suzhou New District (SND), to lure away investors.
Dec 8
Chinese President Jiang Zemin assured SM Lee that Chinese leaders will continue to support the SIP, calling it the most important bilateral economic cooperation project between the two countries.
1999
May
The SIP hit the headlines for asking bankers for an extension of a loan repayment, arising from its poor performance due to rivalry with the SND. Singapore announced it would cut its stake in the project to 35 per cent from 65 per cent and hand over management of the park to the Chinese by 2001.