Multinational corporations have increased their investment in the city of Suzhou to showcase their endorsement for the city’s economic development. Let’s take a close look.
Starbucks China Coffee Innovation Industrial Park opened in Kunshan on Tuesday by increasing the total investment of the park to 1.5 billion yuan, making it Starbucks' largest investment in coffee production and logistics base in China.
On Wednesday, Swire Coca Cola Suzhou Beverage Co., Ltd. broke ground in the Kunshan Development Zone, marking a breakthrough in its largest single investment in China to date.
Suzhou Swire Coca Cola, with a total investment of 2 billion yuan, will be built into a modern factory in East China that integrates production, distribution, and regional sales headquarters, with scheduled operation by the end of 2025.
“We are optimistic about the development potential of the Yangtze River Delta. Suzhou Swire Coca Cola will further enhance its production capacity makeup in the Yangtze River Delta, give full play to the ‘distinctive manufacturing characteristics’ of the Yangtze River Delta region, and enhance the development of key industries in the region,” said Miao Qiuqi, Project Director of Swire Coca Cola (Suzhou) Beverage Co., Ltd.
At the groundbreaking ceremony, Suzhou SwireCoca Cola was given the five documents required for construction. They include real estate certificate and a construction land planning permit.
“Kunshan Development Zone will make every effort to promote the early production of the investment projects, continuously cultivate and strengthen high-end food industry clusters, and contribute more high-quality increments to the high-quality development of Kunshan’s economy,” Jia Erwei, Deputy Director of the Economic Development Promotion Bureau of Kunshan Development Zone, said.
From January to July, Suzhou reported a direct investment of 6.315 billion US dollars, an increase of 8.3%.
