Huaqiao International Service Business Park and Suzhou Industrial Park Zone were designated as national pilot regions for the modern service industry by the Ministry of Finance and Ministry of Commerce.

As a provincial-level development zone led by the modern service industry, Huaqiao International Service Business Park realized an added value of 9.5 billion yuan ($1.5 billion) in the service industry in 2012, accounting for 67.2 percent of Huaqiao's GDP. Compared to 2006, the added value of Huaqiao’s service industry in 2012 rose 8.4 times and increased by 37.6 percentage points in proportion to the region's GDP.

After the designation, Huaqiao will enjoy favorable policies regarding service industry market access, land use and taxes. The region will focus on logistics and e-commerce to explore a new development model in the modern service industry.

Edited by Michael Thai, Zhang Rui and Li Xiaoliang