CRI听力:Suzhou Leads Transformation in China

An industrial park in the city of Suzhou is being hailed as a high-tech success.

CRI's Luo Yu takes us through the facility.

Suzhou Industrial Park is at the forefront of transforming and upgrading its industries from traditional manufacturing to high-end manufacturing, coupled with a service-oriented economy.

Since the park's inception in 1994, manufacturing has become the cornerstone of local economy. And yet in 2001, it became clear that something was missing and the park needed to transform itself. China-Singapore Suzhou Industrial Park Ventures Co., Ltd. or CSVC was then established to provide capital to early-stage, high-potential startup companies.

Zhao Hongxia, deputy general manager of Sandlake VC/PE Community says CSVC plays a pivotal role in the clustering of numerous technology enterprises.

'The objective to establish China-Singapore Suzhou Industrial Park Venture Co. is to be in line with upgrading industries within Suzhou Industrial Park. We have been committed to incubating and fostering high-tech enterprises. An entrepreneur could benefit from one-stop-shop solutions in financing, including equity investment, debt financing, venture capital and so forth.'

Dr. Liu Sheng, CEO of InnoLight Technology, says CSVC is the adventurous type, much bolder than other venture capital firms.

'After two years, we invested all our money into next generation product development, which is 40G transceivers. But there is a risk. If we cannot be successful, all our investment may be gone. So I talked to many big VCs. They are interested, but they are very hesitant to lead this series B investment. Then I go back talk to CSVC, basically then led the series B. At that moment, I closed another 12 million investment and that money made our 40G product line successful.'

As a result, entrepreneurs no longer have to worry about the lack of funds and instead, they can concentrate on developing skills to succeed in the market.

Looking into the future, Dr. Liu Sheng is ambitious.

'We are quite confident with our business growing in next two or three years.'

Reporter: 'In terms of IPO location, which one do you prefer?'

Liu Sheng: 'Maybe I shouldn't talk too much about IPO since it's a sensitive topic. But basically there are four places in our list, US, Taiwan, Hong Kong, and Singapore.'

China-Singapore Suzhou Industrial Park Ventures Co. Ltd., or what is now called Oriza Holdings, has so far invested in nearly 200 startups in the seed stage, and has witnessed 32 companies going public.

CRI's Luo Yu reporting.