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Fengxian bids to lure innovation, cosmetics firms
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Fengxian District, boasting the Oriental Beauty Valley and Future Space, aims to become a gathering place for the world鈥檚 influential cosmetics companies and dynamic scientific innovation firms.
The fiscal revenue of the district on Shanghai鈥檚 southern outskirts kept rising between January and August despite the coronavirus pandemic.
District-level revenue increased by 1.9 percent year on year, while the contracted foreign investment jumped 30 percent, said Zhuang Mudi, Party secretary of Fengxian.
鈥淔engxian is striving to become the world鈥檚 cosmetic capital with its Oriental Beauty Valley,鈥 Zhuang told a press conference yesterday. The brand value of Fengxian鈥檚 business district exceeded 11 billion yuan by the end of 2019 and is rising rapidly this year.
The industries involved in the valley which focuses on the cosmetics and health sectors have been expanded to characteristic businesses such as the pets economy and food additives. China鈥檚 first Internet pet hospital has been established in the district, Zhuang revealed.
Fengxian is also developing Future Space, an innovation park in the newly expanded Shanghai free trade zone, focusing on the intelligent and new energy vehicle sectors.
Construction has begun on a 9.87-kilometer open scenario for automated driving tests, while a second phase covering a total of 36.2 square kilometers has been approved for the space.
Two national vehicle labs and 10 leading enterprises, including smart car manufacturer Allride, have been based in the park, said Zhang Xian, director of the district鈥檚 commission economy and informatization.
The park is tipped as an industrial heartland of the Lingang Special Area of the FTZ and a stage for integrated development of the Yangtze River Delta region. It will gather the world鈥檚 leading industries in 5G, artificial intelligence, new materials and NEVs.
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