Last November, the park released a plan to attract more than 50 competitive cloud computing enterprises whose aggregate output would exceed 20 billion yuan ($3.17 billion).

If the plan were well implemented, local cloud computing businesses might indirectly generate a total output of 100 billion yuan from creative businesses, integrated communications, and culture and education sectors, said Li.

James Tong, Vice Chairman of the Jiangsu province Services Outsourcing Association and a member of the Board of Directors of the Infocomm Development Authority of Singapore, said that the cooperation will open up more opportunities for Singaporean companies hoping to invest in China.

Seow Ngow Liew, executive deputy director of the Suzhou Research Institute of the National University of Singapore, said he was fully confident in the future of the park, as it has been business-friendly, transparent and efficient.

Although the national conditions of the countries vary, by jointly building the Suzhou Industrial Park, China and Singapore can share their experiences in government-to-government cooperation, he said.

At the 15th China-Singapore Suzhou Industrial Park Joint Steering Council Meeting, which opened on Tuesday, delegates from both sides said they would offer support for the park to export its development experience and invest in other Chinese provinces or even third countries within the Association of Southeast Asian Nations.