Latest News:  
Beijing   Sunny    3 / -7   City Forecast

People's Daily Online>>China Business

120b yuan boost for service industries

By Wang Yanlin (Shanghai Daily)

11:15, January 10, 2012

SHANGHAI plans to invest 120 billion yuan (US$19 billion) between now and 2015 to expand and improve the city's modern service industry clusters, the Shanghai Commission of Commerce said yesterday.

Five new zones, including the World Expo site in the Pudong New Area which is to become an exhibition zone, have been named. They push the total number of such clusters to 25.

"The strategy of developing featured zones for service industries can maximize the city's ability in growth and relieve the pressure of too concentrated business," Ai Baojun, the city's vice mayor, said. "The strategy has proved effective in attracting investment, and will become a major driving power in the 12th Five-Year Plan (2011-2015) period."

The first batch of 20 clusters was selected in 2007. They included People's Square Modern Business Zone and Huaihai Road M. Fashion Zone in the downtown area, Jiangwan-Wujiaochang Education and Science Zone in the Middle Ring Road area, and Qibao Ecological Business Zone in the Outer Ring Road area.

By the end of 2010, the last year of the 11th Five-Year Plan, 16 clusters had been built up with an investment of 219.4 billion yuan. They occupied 15.56 million square meters, attracted 408 of the world's or China's 500 biggest companies to locate branches there, and created more than 790,000 jobs.

The city is to continue this strategy by adding five new zones covering 6 million square meters. It is expected that, by 2015, more than 500 large firms will choose to set up their headquarters in such clusters and employ a million people.

Gu Jun, deputy chairman at the Shanghai Commission of Commerce, said the city will offer more help in working out land plans, giving project approvals and providing coordinated services among different departments to make it easier for these clusters to grow. But it will ensure stricter supervision and may deprive the zones of their titles if they don't grow according to plan.

Email|Print|Comments(Editor:雪萌)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Dragon decorations greet approaching Year of Dragon around China

  2. 2012 Int'l Consumer Electronics Show to open in Las Vegas

  3. Fog envelops C China's Henan

  4. 2012 Beijing Book Expo opens

Most Popular

Opinions

  1. S.Korea, China can pull up from their nosedive
  2. Helping Iran weather a looming storm
  3. Give up copying US standards without question
  4. How to make 3 billion trips in 40 days
  5. Greater say needed on yuan's convertibility
  6. Much ado about new stamps and dragons
  7. China takes frank, open stand on Myanmar issue

What's happening in China

Getting to the root of it

  1. 'Cancer villagers' blame polluting industry
  2. Online retailer Jingdong to tap e-book market
  3. Scalpers dial up trouble for iPhone release
  4. Markets still use banned plastic packages
  5. Hong Kongers protest ‘discrimination’

PD Online Data

  1. Yangge in Shaanxi
  2. Gaoqiao in Northern China
  3. The drum dance in Ansai
  4. Shehuo in Baoji City
  5. The dragon dance