Recently, Suzhou Xingshida Intelligent Technology Co., Ltd. received the first business license under Suzhou Industrial Park’s (SIP) “Su Yi Tong” cross-border investment service model. This signifies the official landing of the investment in China by the company’s main investor, the ROPLUS team from Singapore.

The “Su Yi Tong” model is a pioneering exploration by SIP to serve cross-border investment and a milestone in China-Singapore two-way investment. Under this model, through overseas business cooperation centers established in countries like Singapore, SIP are able to provide services such as “cross-border pre-review of registration application materials”, “local verification of identity documents for foreign individual investors”, and “cross-border application for electronic business licenses” for overseas investors who plan to invest in China, allowing them to complete registration without travelling all the way to China.

Previously, SIP set up the first “Su Yi Tong” service counter at the citizen service center in Suzhou and its first corresponding  counter overseas at the International Business Cooperation Centre (IBCC) in Singapore, with the first “Su Yi Tong” service specialists starting their work simultaneously. The communication and mutual assistance between the two sides as well as administrative approval process streamlining have helped save investors a lot of time. For complex cases, project-based teams consisting of professionals from the SIP Administrative Examination and Approval Bureau, SIP Market Supervision Bureau, and China-Singapore Suzhou Industrial Park Development Group (CSSD) Singapore Branch will be set up to provide investors with seamless one-stop service.

“The “Su Yi Tong” model is user-friendly, particularly for start-ups”, said Low Jin Huat, a person in charge from the Singapore ROPLUS team. He mentioned that at the National University of Singapore, where the team is based, many incubated projects are also interested in learning more about investing in China through this channel.

It is learned that the SIP are one of the parks/areas in China with most active cross-border two-way investment. Since the beginning of this year, there has been a year-on-year increase of 77.6% in the number of newly established enterprises with Singaporean shareholders, which accounted for 17.4% of all foreign-funded enterprises set up this year, a significant growth.