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June 1, 2010

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JIADING District hopes to attract more e-commerce companies to register with favorable policies as the booming Internet industry is playing a more important role in the city's economy.

"E-commerce has become the pillar industry in Jiading District and we'll continue to upgrade infrastructure to foster more start-up firms," said Sun Jiwei, governor of the district.

The district hopes sales revenue from e-commerce companies to climb to 10 billion yuan (US$1.46 billion) in three or five years, government officials revealed at an industry forum.

Twenty e-commerce companies have recently signed contracts to locate their offices to the 3131 Creative Industry Zone in the district.

"Supporting and fostering e-commerce is an important move in the city's strategy to shift its economic development model," said vice mayor Ai Baojun.

The district government will offer a housing price discount of 10 percent or 30 percent off rents for three years to companies registered in the zone.

Other favorable measures include a 200,000 yuan to 500,000 yuan government grant to new companies with registered capital over 5 million yuan.
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