INNOVATION OPPORTUNITIES IN KUNSHAN, CHINA
Kunshan is a county-level city in southeastern Jiangsu province with Shanghai bordering its eastern border and Suzhou on its western boundary. It is under the administration of the prefecture-level city of Suzhou. In 2010, together with Vienna, Singapore and three other cities, Kunshan won the UN-Habitat Scroll of Honour Award of the year.
As one of the collaborators for the 2021 KUNSHAN INNOVATION & ENTREPRENEURSHIP CHALLENGE – ASIA SEMI-FINAL, we would like to share some general information about Kunshan to potential entrepreneurs seeking to explore collaboration in this city.
As of 2019, Kunshan is considered to have the highest GDP (404.51 billion yuan) of all county-level cities in China.
Kunshan's key industries include smart manufacturing, biotech, medical devices, semiconductor, advanced materials, renewable energy, environmental remediation, wastewater treatment and Opto-electronics.
Kunshan is 15 minutes by high-speed train from Shanghai. It is only 55 kilometres away from Shanghai to the east and 35 kilometres from Suzhou to the west.
Kunshan has a population of 2.55 million.
Kunshan has one 100-Billion-yuan industrial cluster for digital technologies and twelve 10-Billion-yuan industrial clusters for other advanced technologies, including smart manufacturing, biotech, medical devices, semiconductor, advanced materials, renewable energy, environmental remediation, wastewater treatment and Opto-electronics. It is ranked as one of the hundred "economically strongest county-level jurisdictions" in China.
The strong growth momentum of foreign trade has become the biggest highlight of Kunshan's economic development. In the first half of 2020, Kunshan established 142 new foreign-funded investment projects, with total registered capital of US$2.92 billion. As of now, Kunshan hosts more than 8,400 foreign-funded investment projects from 56 countries, with a total investment of more than US$100 billion.
On 13th March 2020, Starbucks signed contract with Kunshan's Economic and Technological Development Zone to jointly build a "Coffee Innovation Park" with an initial investment of US$130 million. It is Starbucks' largest investment in a production facility outside the United States and the first production-related investment in Asia. The 80,000-sqm park, according to Starbucks, will be its greenest-ever coffee roasting facility, using 30% less energy than a traditional plant of the same size.
In August 2020, Foxconn signed a contract with Kunshan National High-tech Industrial Development Zone to invest US$1 billion in Kunshan to build a 5G millimeter wave connector production plant. At the same signing ceremony, Kunshan government signed agreements for 33 projects with a total value of US$4.43 billion.
Starbucks China Coffee Innovation Park Agreement Signing Ceremony
Foxconn 5G Millimeter Wave Connector Project Signing Ceremony