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September 23, 2020

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Fengxian bids to lure innovation, cosmetics firms

Fengxian District, boasting the Oriental Beauty Valley and Future Space, aims to become a gathering place for the world’s influential cosmetics companies and dynamic scientific innovation firms.

The fiscal revenue of the district on Shanghai’s 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.

“Fengxian is striving to become the world’s cosmetic capital with its Oriental Beauty Valley,” Zhuang told a press conference yesterday. The brand value of Fengxian’s 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’s 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’s 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’s leading industries in 5G, artificial intelligence, new materials and NEVs.




 

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