New SOE park gives Northeast an anchor

09:11, May 24, 2011      

Email | Print | Subscribe | Comments | Forum 

A dozen State-owned enterprises signed agreements on May 18 to move into the Northeastern Advanced Business Park (ABP) in Shenyang, capital of China's Liaoning province.

The new ABP in Shenyang, a branch of Beijing-headquartered ABP, has attracted its first batch of 56 companies, nearly 20 percent of them State-owned enterprises.

Its new residents are engaged in fields ranging from machinery and railway manufacturing to electronics, architecture, steel, logistics, agriculture, creative businesses and technology.

Construction began on the western portion of the park last July. It will have 500 headquarter buildings by the end of 2013, when Shenyang will host the National Games, China's sports gala, Xu Weiping, ABP board chairman said at the signing ceremony.

Built at a cost of 20 billion yuan ($3.08 billion), the western park covering 5 million square meters is expected to attract 2,000 companies from Northeast China - the nation's traditional industrial center and leading heavy equipment producer. Xu attributed the success of the Beijing ABP to its mix of State-owned and private enterprise headquarters.

Currently, 400 businesses have national or regional headquarters in the 400-hectare Beijing park.

In 2004 and 2005, some 10 SOEs moved their headquarters to the Beijing ABP, which then attracted private firms based outside Beijing to establish headquarters.

"We want to do as well in Shenyang as we have in Beijing," Xu said.

"The ABP in Northeast China expects to provide companies with an ideal environment, combining resources and information with an efficient business atmosphere, as well as more opportunities," he added.

"In addition to quality buildings, we will also build a headquarters culture to assist information and capital operations at companies."

Jiao Yutian, president of the Liaoning provincial branch of the Postal Savings Bank of China, said: "it is ABP's systematic management, enticing environment, completed infrastructure and convenient services that prompted us to move in."

Gu Chunming, first deputy-mayor of Shenyang, said that Liaoning is undergoing a major transformation to adjust industrial structure and rejuvenate traditional industries, so the ABP park will become a high-end home for noted enterprises from home and abroad that will drive economic growth in the city and even province-wide.

Industry insiders also acknowledged the major role the park will play in the near future to help Shenyang and Northeast China attract more talent, create jobs, and improve communication and technologies.

Source: China Daily
Wen Jiabao attends trilateral leaders' meeting of China,Japan and ROK
The Third China-U.S.Strategic and Economic Dialogue
  Weekly review  
May 20   World Economic Forum China office marks fifth anniversary
May 18   China, Pakistan joined in bonds of brotherhood
May 20   'Central axis' of Beijing applies for world cultural heritage
May 20   In pictures: Int'l 'Financial Security' symposium opens in Beijing
May 21   The week in pictures
May 16   Beijing aims for massive influx of overseas talent in 2011
May 16   Singapore election coverage shows Western arrogance
May 16   Chinese naval helicopter conducts target practice in Gulf of Aden
May 17   Strategies for harmony between militaries of China, US
May 17   Pakistani Prime Minister hails China as true friend


  • Do you have anything to say?


Special Coverage
  • 3rd Anniversary Of Wenchuan Earthquake
  • Third China-U.S. Strategic and Economic Dialogue
Major headlines
Editor's Pick
  • Clinton, Hague meet press in London
  • Ancient paper making process displayed in inventor's hometown
  • Toyota, build social network
  • Feature: Obama addresses cheering crowds in hero's welcome in Ireland
  • Egypt opens tombs to tourists
  • NBA player Luis Scola starts China tour
Hot Forum Dicussion