National University of Singapore (NUS) will set up a research institute in Suzhou Industrial Park ( SIP) to deepen expertise and connections in China, local daily The Business Times reported on Tuesday.

NUS's proposed institute is in line with its efforts to be a " knowledge center on Asia".

Finance, water and environmental sustainability are likely areas of research the institute will pursue, as they are of interest to SIP and linked to the NUS Integrative Research Clusters.

And themes likely to become key for SIP in coming years - such as biomedicine, nanotechnology, nano-optoelectronics, microelectronics and communications as well as digital media and animation - are those that NUS has an interest or strengths in.

Research aside, the institute will also house an incubator to help NUS and Singapore start-ups grow in China's huge market, in collaboration with Chinese partners.