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Counties 'must look to smart growth'
By Lu Nengneng |
September 24, 2011, Saturday
|
Print Edition
Print Edition
COUNTY-LEVEL cities - the basic unit of China's economy - must establish a model of smart growth to steer through ongoing global financial turmoil, participants said on a forum yesterday.
"County-level cities must shift their focus from a land and labor-intensive economy to spot their next growth point, with industrial upgrades and innovations topping their agendas," Zhou Jiangong, editor of Forbes China said on Forbes China County Investment and Development Forum.
As a global double-dip recession is looming, the mounting currency dispute, along with the increasing trade protectionism, further threatens low value-added exports that form the core of county economies.
High-tech manufacturing is now among the top choices for nationwide industrial upgrades, led by private companies.
"The tightening policies to curb inflation have given them a hard time and pushed them to adopt an innovation-driven business model," said Lu Jun, mayor of county-level city Kunshan.
The electronics manufacturing hub continues to top the list of 25 best counties in China for business compiled by Forbes this year, followed by Changshu and Zhang Jiagang in Jiangsu Province.
Jiangsu is home to 8 listed counties, with 7 in Zhejiang Province, 5 in Shandong Province, 3 in Fujian Province, and 1 each in Guangdong and Hebei provinces.
The ranking is a review of seven factors contributing the economic growth. These include skilled labor, city size, consumption, logistics, traffic, private business and ability to innovate.
"County-level cities must shift their focus from a land and labor-intensive economy to spot their next growth point, with industrial upgrades and innovations topping their agendas," Zhou Jiangong, editor of Forbes China said on Forbes China County Investment and Development Forum.
As a global double-dip recession is looming, the mounting currency dispute, along with the increasing trade protectionism, further threatens low value-added exports that form the core of county economies.
High-tech manufacturing is now among the top choices for nationwide industrial upgrades, led by private companies.
"The tightening policies to curb inflation have given them a hard time and pushed them to adopt an innovation-driven business model," said Lu Jun, mayor of county-level city Kunshan.
The electronics manufacturing hub continues to top the list of 25 best counties in China for business compiled by Forbes this year, followed by Changshu and Zhang Jiagang in Jiangsu Province.
Jiangsu is home to 8 listed counties, with 7 in Zhejiang Province, 5 in Shandong Province, 3 in Fujian Province, and 1 each in Guangdong and Hebei provinces.
The ranking is a review of seven factors contributing the economic growth. These include skilled labor, city size, consumption, logistics, traffic, private business and ability to innovate.
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