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Hangzhou devotes unremitting effort to the opening pattern of growth
By Dong Yiying |
00:00 UTC+8 October 11, 2010
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Print Edition
Print Edition
HANGZHOU'S economic development model is now being transformed from resource-driven to innovation-driven.
The city's policy centers on four aspects: introducing an open-door policy, building an open platform, importing open elements and enhancing open service.
Laying emphasis on open policy, Hangzhou Municipal Government aims to strengthen foreign investment and trade, expand foreign economic relations, and optimize its outsourcing and support services.
The city has achieved many honors in the past few years: It has been named "The Best City for Investment in China" by World Bank for four consecutive times, "The Best Commercial City in Chinese mainland" by Forbes for six successive years and "The Most Dynamic City in China" by China Central Television.
Also it was identified by the State Council as a model city for China's outsourcing service while both commerce and education ministries have made it "China's Outsourcing Service Training Center."
Along with such titles as "the best international financial outsourcing service city" and "the government support awards for software exports and outsourcing services," Hangzhou is now further enhancing its reputation.
The city's contractual and paid-in foreign capital accounted for 43.1 percent and 39.8 percent respectively of the overall provincial volume in 2009. It ranked third among cities in the Yangtze River Delta region, right after Shanghai and Suzhou in Jiangsu Province.
In the first eight months of 2010, Hangzhou authorized 331 foreign-invested enterprises, with a total contractual foreign capital of US$4.3 billion, up 42.9 percent year on year. The actual paid-in capital was US$2.5 billion, up 13.2 percent.
By the end of August, 122 projects have been set up in Hangzhou by Fortune 500 companies, five of which only arrived in the area in 2010. Among those making their debut were US Liberty Insurance, Eli Lilly and Mitsui Sumitomo Insurance Co Ltd.
Many high-tech projects and advanced manufacturing and modern service industries have been attracted to Hangzhou in the past few years, including Fortune 500 companies and growing high-tech industries.
The city is in talks to promote some of the projects by Fortune 500 companies including Evonik Degussa and Xinan Chemical, Coca-Cola and the joint venture between Microsoft and Insigma.
Other high-end service industries are also maintaining a good momentum of development in the area, including the Liberty Insurance, AXA Life Insurance and Mitsui Sumitomo Insurance Life.
The city's policy centers on four aspects: introducing an open-door policy, building an open platform, importing open elements and enhancing open service.
Laying emphasis on open policy, Hangzhou Municipal Government aims to strengthen foreign investment and trade, expand foreign economic relations, and optimize its outsourcing and support services.
The city has achieved many honors in the past few years: It has been named "The Best City for Investment in China" by World Bank for four consecutive times, "The Best Commercial City in Chinese mainland" by Forbes for six successive years and "The Most Dynamic City in China" by China Central Television.
Also it was identified by the State Council as a model city for China's outsourcing service while both commerce and education ministries have made it "China's Outsourcing Service Training Center."
Along with such titles as "the best international financial outsourcing service city" and "the government support awards for software exports and outsourcing services," Hangzhou is now further enhancing its reputation.
The city's contractual and paid-in foreign capital accounted for 43.1 percent and 39.8 percent respectively of the overall provincial volume in 2009. It ranked third among cities in the Yangtze River Delta region, right after Shanghai and Suzhou in Jiangsu Province.
In the first eight months of 2010, Hangzhou authorized 331 foreign-invested enterprises, with a total contractual foreign capital of US$4.3 billion, up 42.9 percent year on year. The actual paid-in capital was US$2.5 billion, up 13.2 percent.
By the end of August, 122 projects have been set up in Hangzhou by Fortune 500 companies, five of which only arrived in the area in 2010. Among those making their debut were US Liberty Insurance, Eli Lilly and Mitsui Sumitomo Insurance Co Ltd.
Many high-tech projects and advanced manufacturing and modern service industries have been attracted to Hangzhou in the past few years, including Fortune 500 companies and growing high-tech industries.
The city is in talks to promote some of the projects by Fortune 500 companies including Evonik Degussa and Xinan Chemical, Coca-Cola and the joint venture between Microsoft and Insigma.
Other high-end service industries are also maintaining a good momentum of development in the area, including the Liberty Insurance, AXA Life Insurance and Mitsui Sumitomo Insurance Life.
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