Kunshan city lures overseas innovators
By Lu Nengneng |
October 27, 2011, Thursday
|
Print Edition
Print Edition
Investors increasingly are choosing Kunshan City near Shanghai to expand business since the richest county-level city in China has upgraded its economic blueprint.
The city signed US$1.76 billion in investment contracts with 25 companies at the opening of its 15th autumn investment promotion fair, creating major business for Jiangsu Province.
Starting October 19, the one-month event aims to attract more than 5,000 investors from China and overseas through forums, conferences, and exhibitions. The aim is attracting high-tech industries.
Solar power and other renewable energies, new materials and bio-pharmaceuticals have pushed Kunshan beyond its traditional base as an electronics manufacturing hub.
Production in new strategic sectors totaled 160 billion yuan, after a 27.6 percent increase during the past nine months. That's 12.4 percentage points above the city's average growth in manufacturing.
"The investment fair is critical in speeding up Kunshan's industrial upgrades under the 12th 5-year plan that calls for an innovation-driven economic model," Lu Jun, acting mayor of Kunshan, said during the opening .
"Smart" has become buzzword for the development, shifting away from the labor-intensive and export-oriented model to spin money in a more sustainable way.
Around 3,900 Taiwan companies have set up factories in Kunshan, investing a total of US$47.4 billion.
The "mini Taipei" on the Chinese mainland processed supplied materials for clients abroad, but the continued appreciation of the yuan and mounting trade protectionism reduced its cost advantage, prompting a shift from being the world's factory into a global innovation laboratory.
More Taiwan companies are setting up research and development teams and regional sales centers to facilitate sales of their own brands.
"Kunshan encourages Taiwan firms to create their own brands and will be their stepping stone in the mainland market," said Zhang Yulin, deputy mayor of Kunshan.
The Economic Cooperation Framework Agreement signed last year helps Kunshan accelerate construction of its cross-strait economy and trade zone.
To attract more companies, the city has streamlined its administrative process eight times. It also puts talent-scouting atop its agenda.
The city signed US$1.76 billion in investment contracts with 25 companies at the opening of its 15th autumn investment promotion fair, creating major business for Jiangsu Province.
Starting October 19, the one-month event aims to attract more than 5,000 investors from China and overseas through forums, conferences, and exhibitions. The aim is attracting high-tech industries.
Solar power and other renewable energies, new materials and bio-pharmaceuticals have pushed Kunshan beyond its traditional base as an electronics manufacturing hub.
Production in new strategic sectors totaled 160 billion yuan, after a 27.6 percent increase during the past nine months. That's 12.4 percentage points above the city's average growth in manufacturing.
"The investment fair is critical in speeding up Kunshan's industrial upgrades under the 12th 5-year plan that calls for an innovation-driven economic model," Lu Jun, acting mayor of Kunshan, said during the opening .
"Smart" has become buzzword for the development, shifting away from the labor-intensive and export-oriented model to spin money in a more sustainable way.
Around 3,900 Taiwan companies have set up factories in Kunshan, investing a total of US$47.4 billion.
The "mini Taipei" on the Chinese mainland processed supplied materials for clients abroad, but the continued appreciation of the yuan and mounting trade protectionism reduced its cost advantage, prompting a shift from being the world's factory into a global innovation laboratory.
More Taiwan companies are setting up research and development teams and regional sales centers to facilitate sales of their own brands.
"Kunshan encourages Taiwan firms to create their own brands and will be their stepping stone in the mainland market," said Zhang Yulin, deputy mayor of Kunshan.
The Economic Cooperation Framework Agreement signed last year helps Kunshan accelerate construction of its cross-strait economy and trade zone.
To attract more companies, the city has streamlined its administrative process eight times. It also puts talent-scouting atop its agenda.
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