120b yuan boost for service industries
By Wang Yanlin |
January 10, 2012, Tuesday
|
Print Edition
Print Edition
SHANGHAI plans to invest 120 billion yuan (US$19 billion) between now and 2015 to expand and improve the city's modern service industry clusters, the Shanghai Commission of Commerce said yesterday.
Five new zones, including the World Expo site in the Pudong New Area which is to become an exhibition zone, have been named. They push the total number of such clusters to 25.
"The strategy of developing featured zones for service industries can maximize the city's ability in growth and relieve the pressure of too concentrated business," Ai Baojun, the city's vice mayor, said. "The strategy has proved effective in attracting investment, and will become a major driving power in the 12th Five-Year Plan (2011-2015) period."
The first batch of 20 clusters was selected in 2007. They included People's Square Modern Business Zone and Huaihai Road M. Fashion Zone in the downtown area, Jiangwan-Wujiaochang Education and Science Zone in the Middle Ring Road area, and Qibao Ecological Business Zone in the Outer Ring Road area.
By the end of 2010, the last year of the 11th Five-Year Plan, 16 clusters had been built up with an investment of 219.4 billion yuan. They occupied 15.56 million square meters, attracted 408 of the world's or China's 500 biggest companies to locate branches there, and created more than 790,000 jobs.
The city is to continue this strategy by adding five new zones covering 6 million square meters. It is expected that, by 2015, more than 500 large firms will choose to set up their headquarters in such clusters and employ a million people.
Gu Jun, deputy chairman at the Shanghai Commission of Commerce, said the city will offer more help in working out land plans, giving project approvals and providing coordinated services among different departments to make it easier for these clusters to grow. But it will ensure stricter supervision and may deprive the zones of their titles if they don't grow according to plan.
Five new zones, including the World Expo site in the Pudong New Area which is to become an exhibition zone, have been named. They push the total number of such clusters to 25.
"The strategy of developing featured zones for service industries can maximize the city's ability in growth and relieve the pressure of too concentrated business," Ai Baojun, the city's vice mayor, said. "The strategy has proved effective in attracting investment, and will become a major driving power in the 12th Five-Year Plan (2011-2015) period."
The first batch of 20 clusters was selected in 2007. They included People's Square Modern Business Zone and Huaihai Road M. Fashion Zone in the downtown area, Jiangwan-Wujiaochang Education and Science Zone in the Middle Ring Road area, and Qibao Ecological Business Zone in the Outer Ring Road area.
By the end of 2010, the last year of the 11th Five-Year Plan, 16 clusters had been built up with an investment of 219.4 billion yuan. They occupied 15.56 million square meters, attracted 408 of the world's or China's 500 biggest companies to locate branches there, and created more than 790,000 jobs.
The city is to continue this strategy by adding five new zones covering 6 million square meters. It is expected that, by 2015, more than 500 large firms will choose to set up their headquarters in such clusters and employ a million people.
Gu Jun, deputy chairman at the Shanghai Commission of Commerce, said the city will offer more help in working out land plans, giving project approvals and providing coordinated services among different departments to make it easier for these clusters to grow. But it will ensure stricter supervision and may deprive the zones of their titles if they don't grow according to plan.
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