Japanese companies in SND develop with good momentum

Japanese companies in Suzhou New District (SND) have partnered with the local government to overcome downward economic pressure created by the COVID-19 pandemic, local media reported May 21.

All of the 580 Japanese companies have resumed work and some even turned the tables and achieved eye-catching growth in the first quarter: NGK Automotive Ceramics grew 16.6 percent to realize an output of 750 million yuan ($105 million) and Sumitomo Electric's output was up 51.7 percent to 357 million yuan.

In high-end manufacturing, information technology and new energy, the district attracted $114 million in registered foreign capital from January to April, with $64 million having actually been received, marking a year-on-year growth of 390 percent.

District officials said such strong results were yielded from its efforts in all aspects. For example, its office in Japan set the stage for frequent exchanges last year. SND is also home to 580 Japanese companies, with total investment of $20 billion, accounting for one-third of the district's total foreign companies, and 20 of these were global top 500 companies.

The district is planning on a Suzhou Japan New-Tech Bay, which has attracted investment of 3 billion yuan and is expected to become a pioneer in energy conservation and environmental protection.

The living conditions for some 4,000 Japanese people in the district were improved, with targeted schools, clinics, banks and shopping malls established.