Suzhou New District and Mitsui & Co sign a contract for a Sino-Japanese smart manufacturing base in Suzhou New District on Jan 6. [Photo/WeChat account: snd-szgxqfb]
Japan's Mitsui & Co will invest in a Sino-Japanese smart manufacturing base in Suzhou New District (SND), Mitsui & Co and SND announced at a signing ceremony in Suzhou, Jiangsu province, on Jan 6.
The $450-million base is expected to attract Japanese companies engaged in the manufacturing and sales of high-end equipment, automobile parts, and bulk consumers products. Mitsui & Co will take part in the base's construction and management.
Mitsui & Co is one of the largest Japanese companies and has been cooperating with SND for over 20 years.
In 1997, Sumitomo Mitsui Banking Corporation opened its SND branch, which was the first foreign bank in Jiangsu province.
In 2010, Mitsui & Co founded the Suzhou Kobelco Copper Technology Co in SND.
Since the founding of Suzhou NDK Co in 1994, SND has attracted more than 700 Japanese-invested companies.
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