Shenyang has been striving in recent years to cultivate new economic drivers to strengthen global communications and enrich its cultural attractiveness.
One prominent recent example: The Nov 7 announcement of an artificial intelligence industrial park project, funded by a 5 billion yuan ($768.32 million; 639.01 million euros; ￡568.52 million) investment from Zhongnan Gaoke Group, to be built in Shenfu New Town, a provincial-level economic zone in the convergence areas of Shenyang and Fushun cities.
According to the administrative committee of the town, a large number of leading enterprises from Germany, Japan and South Korea will be attracted by the project, capitalizing on the new development opportunity arising from the high-tech AI industry.
Zhongnan Group is a leading Chinese enterprise operating comprehensive businesses with total assets exceeding 200 billion yuan.
Zhongnan Gaoke, one of its subsidiaries, will use its investments to build a complete industrial cluster providing scientific research, talent training and new product development. District officials said the project is in line with their development plans to transform the area into an all-level reform and opening-up pioneer zone in Northeast China.
It will become a benchmark area, optimizing investment and the business environment, as well as developing innovation-driven industry and generating new engines for local development.
To facilitate the upgrade in local economy, Shenfu New Town has formulated a series of preferential policies in terms of industrial development, land management and financial support, which will provide all-level services for companies in the area.
In September, the State Council approved the new construction plan of the area and it is now focusing on building up “four development engines” in terms of smart manufacturing, the digital economy, headquarters for companies, and high-end equipment.
In April 2017, the Shenfu New Town was appointed as a provincial-level economic zone. The local government took the district as a key factor to adjust the local industrial development and introduce new blood to the boost the economy.
(China Daily European Weekly 11/16/2018 page16)