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Hangzhou targets 10 key industries
By Pan Zheng |
September 17, 2011, Saturday
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HANGZHOU will promote the development of 10 key industries, according to a newly published research report by the Hangzhou government. They are: cultural innovation, tourism and leisure, financial services, e-commerce, information technology and software, modern equipment manufacturing, Internet of things, biomedicine, environmental protection and new energy.
Hangzhou has been concentrating on developing these 10 industries for years. The average growth rates in the past three years have been at least 15 percent in these industries. But e-commerce, Internet of things and new energy had growth rates of more than 40 percent during the period.
In the 12th Five-Year Plan (2011-2015), Hangzhou has made it clear that it will make best use of the advantages of other local industries while making major efforts to develop the 10 key industries.
In the following years, Hangzhou will take advantage of the opportunity of adjustments in global industrial distribution and attract more foreign capital to the city, especially in the 10 industries.
During the 11th Five-Year Plan (2006-2010), the utilized foreign capital of Hangzhou reached more than US$16 billion with an average annual growth of over 20 percent. During that period, 29 of the world's Top 500 companies invested in 45 projects in the city.
In 2010, Hangzhou's contracted foreign capital and implemented capital equaled 38.5 percent and 39.6 percent of the province's total, respectively. It ranked third among cities in the Yangtze River Delta, trailing Shanghai and Suzhou, Jiangsu Province.
From last year, Hangzhou started to attract investment in industries with local characteristics. Several high-quality projects were introduced that have the potential to transform and upgrade the local economy.
For example, cooperation with pharmacutical giants MSD and Sanofi, and elevator maker Otis has quickened the improvement of Hangzhou's traditional industries.
Meanwhile, Hangzhou's financial services industry has been boosted by the presence of multinationals such as HSBC, Liberty Mutual, KPMG, State Street and Tokio Marine.
Other global top 500 compaies such as Toshiba, Panasonic and Motorola have also expedited the development of Hangzhou's infant industries.
According to the Hangzhou government, during the 12th Five-Year Plan, the city will attract more foreign capital to improve the city's ability to compete internationally.
The government anticipates that the amount of capital attracted in the 10 industries shall reach more than 50 percent of the total.
Main goals
The Hangzhou Foreign Trade and Economic Cooperation Bureau has set five main goals fordeveloping the 10 key industries and industries with local characteristics.
1. Promoting global publicity in designated regions with wide coverage.
2. Attracting more global top 500 enterprises and industry leaders to help build up Hangzhou's industrial advantages.
3. The capital attracted for leading industries in each district, county and development zone shall reach more than 20 percent of the total that they have drawn in.
4. Promoting more cooperation between local private enterprises and foreign giants to bring about a win-win situation.
5. Establishing more overseas capital attracting channels to help boost new projects in the 10 key industries in Hangzhou.
Four guarantees
1. All districts, counties and development zones in Hangzhou will make investment attraction a priority by optimizing resource distribution and establishing a good investment environment.
2. A mechanism of coordination will be established for projects in the 10 industries to better communication and coordination with key municipal projects, and quicken project approval and problem-resolving procedures.
3. Beneficial policies will be issued to support projects in the 10 industries.
4. Funds will be made available for investment attracting programs for the 10 industries. The funds will amount to more than 70 percent of the total the city uses to attract investment.
Promotion schedule
Platforms will be established all over the world to attract investment.
April: A promotion to attract investment in environmental protection, energy saving and new energy was held.
May: The Hangzhou-EU Investment Promotion Week on energy saving and environmental protection, finance, cultural innovation and electronic information industries was held.
June: A promotion to attract investment in the advanced equipment manufacturing industry was held in Japan; a theme activity on Shanghai commercial real-estate was held; a promotion to attract investment in modern services and modern manufacturing was held in Ningbo.
July: The Investment Promotion Week for ecological medicine, energy saving and environmental protection, as well as the finance indsutry was held in the United States.
August: Hangzhou-Taiwan Investment Promotion Week for electronic information and advanced equipment manufacturing was held.
September: Hangzhou will participate in the investment introduction conference for global top 500 companies in Beijing.
October: Investment Cooperation Week will be held at West Lake Expo.
November: A promotion to attract investment in the 10 industries will be held in Shanghai.
Hangzhou has been concentrating on developing these 10 industries for years. The average growth rates in the past three years have been at least 15 percent in these industries. But e-commerce, Internet of things and new energy had growth rates of more than 40 percent during the period.
In the 12th Five-Year Plan (2011-2015), Hangzhou has made it clear that it will make best use of the advantages of other local industries while making major efforts to develop the 10 key industries.
In the following years, Hangzhou will take advantage of the opportunity of adjustments in global industrial distribution and attract more foreign capital to the city, especially in the 10 industries.
During the 11th Five-Year Plan (2006-2010), the utilized foreign capital of Hangzhou reached more than US$16 billion with an average annual growth of over 20 percent. During that period, 29 of the world's Top 500 companies invested in 45 projects in the city.
In 2010, Hangzhou's contracted foreign capital and implemented capital equaled 38.5 percent and 39.6 percent of the province's total, respectively. It ranked third among cities in the Yangtze River Delta, trailing Shanghai and Suzhou, Jiangsu Province.
From last year, Hangzhou started to attract investment in industries with local characteristics. Several high-quality projects were introduced that have the potential to transform and upgrade the local economy.
For example, cooperation with pharmacutical giants MSD and Sanofi, and elevator maker Otis has quickened the improvement of Hangzhou's traditional industries.
Meanwhile, Hangzhou's financial services industry has been boosted by the presence of multinationals such as HSBC, Liberty Mutual, KPMG, State Street and Tokio Marine.
Other global top 500 compaies such as Toshiba, Panasonic and Motorola have also expedited the development of Hangzhou's infant industries.
According to the Hangzhou government, during the 12th Five-Year Plan, the city will attract more foreign capital to improve the city's ability to compete internationally.
The government anticipates that the amount of capital attracted in the 10 industries shall reach more than 50 percent of the total.
Main goals
The Hangzhou Foreign Trade and Economic Cooperation Bureau has set five main goals fordeveloping the 10 key industries and industries with local characteristics.
1. Promoting global publicity in designated regions with wide coverage.
2. Attracting more global top 500 enterprises and industry leaders to help build up Hangzhou's industrial advantages.
3. The capital attracted for leading industries in each district, county and development zone shall reach more than 20 percent of the total that they have drawn in.
4. Promoting more cooperation between local private enterprises and foreign giants to bring about a win-win situation.
5. Establishing more overseas capital attracting channels to help boost new projects in the 10 key industries in Hangzhou.
Four guarantees
1. All districts, counties and development zones in Hangzhou will make investment attraction a priority by optimizing resource distribution and establishing a good investment environment.
2. A mechanism of coordination will be established for projects in the 10 industries to better communication and coordination with key municipal projects, and quicken project approval and problem-resolving procedures.
3. Beneficial policies will be issued to support projects in the 10 industries.
4. Funds will be made available for investment attracting programs for the 10 industries. The funds will amount to more than 70 percent of the total the city uses to attract investment.
Promotion schedule
Platforms will be established all over the world to attract investment.
April: A promotion to attract investment in environmental protection, energy saving and new energy was held.
May: The Hangzhou-EU Investment Promotion Week on energy saving and environmental protection, finance, cultural innovation and electronic information industries was held.
June: A promotion to attract investment in the advanced equipment manufacturing industry was held in Japan; a theme activity on Shanghai commercial real-estate was held; a promotion to attract investment in modern services and modern manufacturing was held in Ningbo.
July: The Investment Promotion Week for ecological medicine, energy saving and environmental protection, as well as the finance indsutry was held in the United States.
August: Hangzhou-Taiwan Investment Promotion Week for electronic information and advanced equipment manufacturing was held.
September: Hangzhou will participate in the investment introduction conference for global top 500 companies in Beijing.
October: Investment Cooperation Week will be held at West Lake Expo.
November: A promotion to attract investment in the 10 industries will be held in Shanghai.
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