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Yangtze Economic Zone to Push China's Economy
Recent economic statistics show that new and hi-tech industries in the economic zone along China's Yangtze River develop faster than the average speed in the nation, which drives the economy of the zone, with its GDP making up 40 percent of the nation's total.
The 2400-kilometer Yangtze economic zone (YEZ) consists of 17 state-level or provincial-level development zones in Shanghai, Nanjing, Suzhou, Hefei, Nanchang, Wuhan, Changsha, Chongqing and other river-side cities. Official statistics show that the production value in these development zones have accounted for 70 percent of the total production value of development zones in China.
According to joint statistics of Shanghai, Chongqing, Hubei, Hunan, Jiangxi, Jiangsu and Anhui, new and hi-tech industrial value in these seven provinces and municipalities were 419.4 billion yuan (US$50.5 billion) last year, or 70 percent of the country's total. It is estimated that this figure will reach 531.5 billion yuan (US$64 billion) this year.
Five out of the seven provinces recorded an above average increase.
In the YEZ, the production of new generation products has been cut by one third in some enterprises. Many new products with self-owned patents, like gene promoting epidermis growth and laser treatment machines, are of high technological content and market potential. These products add to the competitiveness in the international market.
Shanghai is a good example. Last year, Shanghai's new and hi- tech exports were US$3.89, up 48.7 percent from the previous year. An AIDs treatment produced in Shanghai is unique and falls short of demand in overseas markets.
East coastal China's Jiangsu is another forerunner. Its computer mouse output has reached 65 percent of the world total and its small liquid crystal display screen 70 percent. Infrared sensors by Shanghai enterprises maintains 60 percent of the world market, competing with enterprises from Germany and Hong Kong.
New and hi-tech industries accelerate industrial structure in the Yangtze-side cities and foster new pillar industries.
With thousands of hi-tech inventions being used in traditional industries in Shanghai, many energy-consuming, heavy-polluting industries have been shut down to reduce one third of the industrial pollution in downtown areas.
Currently, 40 new and hi-tech products in Shanghai, including large-scale integrated circuits, maintain the largest share in the domestic market.
The industrial value of new and hi-tech industries in Shanghai, such as information, biochemical medicine and seven traditional pillar industries, stands at over 70 percent of the city's total industrial value.
In the iron and steel industry, for example, the employment of new-tech has resulted in many new kinds of steel products. The net value of Shanghai's steel industry makes up 43 percent of the nation's total. The use of robot-manipulated paint-spraying technology and new materials has upgraded and renewed Shanghai's auto industry. Shanghai provides China with one half of its auto production.
The establishment of internationally renowned hi-tech groups and industry bases is gaining momentum in the economic zone.
From national companies that have an annual revenue above 100 million yuan (US$12 million), five of the top ten operate in the zone, including Seagate International Technologies Co. Ltd. and the Sino-US joint-invested Shanghai Bell.
China Optic Valley, under construction in Wuhan, capital of China's Hubei Province, will become China's largest and the world first-class optical electronic information industry base. Its industrial value will reach 100 billion yuan (US$12 billion) in 2005.
The Shanghai Pudong bio-medicine base will come to be the largest hi-tech medicine center in the country.
Shanghai's Silicon Valley will have an electronic information industrial value of 400 billion yuan (US$48.2 billion) in 2005.
"These major groups and bases will function as dynamic force to push sustainable development of China's economy and help the country participate in international division of labor in a new and hi-tech era," said a local official.
Rapid economic growth in the Yangtze-side zone also comes from the implementation of the national strategy of "Rejuvenating China through Science and Education" by local governments.
Statistics show that the economic zone has over 40 percent of the nation's scientific and technical personnel, 50 percent of academicians of the Chinese Academy of Science and Chinese Academy of Engineering, 45 percent of scientific and technical awards and one third of patents.
With the Yangtze-side cities opening wider to the outside world, local governments are making efforts to cooperate with domestic and overseas enterprises to set up a new system to develop its new and hi-tech industries.
In helping scientific and technical personnel establish new businesses, local governments have changed their role from a passive one to one that initiates service, thus promoting the growth of local new and hi-tech industries.
The reform in ownership and management mechanism has made it possible for hi-tech enterprises to realize multi-shareholding, knowledge capitalization, the importing of overseas capital and the setting up of technological renovation funds and venture capital, according to local officials.
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