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October 28, 2014

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Home » City specials » Hangzhou

Building a favorable business environment

By Wu Huixin | October 28, 2014, Tuesday | Print Edition

THE 2014 World Hangzhou Entrepreneur Conference wrapped up last week with 19 contracts involving a total of 1.84 billion yuan (US$300.7 million) signed.

Most of the contracts were in the key sectors of software, cultural creation and tourism. The Hangzhou government also signed strategic cooperation agreements with the Shanghai branch of the Zhejiang Chamber of Commerce, Shanghai Fosun Group and Yangtze River Economic Development Group.

A series of prizes were presented to outstanding entrepreneurs like Zong Qinghou, president of Hangzhou Wahaha Group, and Jack Ma, founder of e-commerce giant Alibaba. Hangzhou STO Express Co and Zoland Animation Co also picked up awards.

As one of China’s largest beverage makers, Wahaha is planning to enter the African market in the next few years. It took advantage of the conference and reached an agreement with China-Africa Development Fund and Zhejiang branch of China Development Bank.

“Africa is not as dangerous as I expected. On the contrary, it is full of opportunities,” Zong said at the conference after visiting some countries on the vast continent. “For example, Angola is eager to attract foreign capital. It also has abundant timber, fishery and mineral resources. Foreign companies can receive various incentives to invest.”

Zong said Hangzhou companies should work together if they want to enter a foreign market. He visited Africa along with Hu Jiqiang, president of CONBA Croup, and Zhu Fujiang, president of Hangzhou Minsheng Pharma.

“Africa represents a huge potential opportunity for Hangzhou’s private companies,” Zong added. “If we work together, we can utilize our excess capacity and in return benefit African people.”

While some of the city’s companies look overseas to expand, some face challenges like upgrading technology and transforming their business models.

Yao Jingyuan, a research fellow of State Council, said core technology is the key as it creates bigger profit margins for companies.

Some Hangzhou entrepreneurs already understand this and are working to make their businesses more innovative.

“No innovation, no future,” said Chen Lijun, president of Zhejiang Huari Co, which make refrigerators. “In our new factory we will replace workers with advanced machines and use an automated production line.”

Tu Hongyan, president of Wensli Group, agreed. He said the company once produced silk scarves for other brands, but eventually they made a decision to improve their technology. No Wensli has its own brand concept and culture, which has led to better products, Tu added.

In 2011, the city government launched a policy to entice overseas Hangzhou natives to return and invest in their hometown. The policy covers tax breaks, a faster approval process and more. Thus far the policy has led to 10.34 billion yuan in investment.

“When I established my company seven years ago, the network information security industry was not prosperous. Without Hangzhou’s favorable environment for innovation, my company might not exist today,” said Fan Yuan, president of DBAPP Security Company.

“The efficiency of government officials has helped companies save a lot of time and money. Now Hangzhou is dedicated to developing itself into a smart city. We hope we can help Hangzhou achieve the goal.”

Hangzhou Party Secretary Gong Zheng said companies need to be honest, open and innovative to ensure a bright future, adding that they can make great contributions to the city’s future.

“In return, our government will further boost work efficiency and optimize the investment environment,” he said.

Mayor Zhang Hongming added that the city has created a favorable environment to do business since the city attracts the province’s most talented individuals.

“It is the biggest platform for entrepreneurs to invest and set up a business in the province,” said Zhang.

Hangzhou


 

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