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October 13, 2015

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Home » City specials » Hangzhou

Cinderella story of urban redevelopment

By Wu Huixin | October 13, 2015, Tuesday | Print Edition

HANGZHOU’S Jianggan District, once a rural backwater of paddy fields and shabby homes, has been transformed into a thriving commercial area and transit hub after years of redevelopment.

Since the Hangzhou East Railway Station came into operation, the district has become a transit point connecting five main bullet-train rail lines that stretch across eastern China. It is also a hub for expressways that connect Hangzhou with Shanghai and Ningbo. Metro Line 1 links its easternmost Xiasha area with downtown. The district is only a 20-minute drive from Xiaoshan International Airport.

The development of Qianjiang New Town has also accelerated local prosperity. The town is a major commercial center of administrative offices, public services and business headquarters.

In the next three years, more than 50 million square meters of office space is planned, which will account for about a third of commercial facilities in Hangzhou. Qianjiang Finance Town is expected to become a major financial industry center.

Jianggan’s development has always been forward-looking, focusing on cultural creative industries, financial services and e-commerce. The district is touting its “one-stop” services for businesses.

“Jianggan’s general revenue is expected to double in 2016, with gross regional product is expected to exceed 60 billion yuan (US$9.5 billion), or US$20,000 per capita,” said Sheng Yuechun, Jinggan Party secretary.

This year, the Hangzhou government unveiled a Qiantang “smart town” plan. By 2020, the plan aims to create a platform attracting top-level professionals in the city’s pillar industries.

The smart town will cover 15.3 square kilometers, including the Jiubao Block, Jianggan Science and Economy Park, and the Hangzhou International Trade-Business City. Several national research institutes and high-profile enterprises have already established operations there. Last year, revenue in the town hit 2.4 billion yuan.

The smart town will emphasize manufacturing — both traditional and in new technologies. E-commerce is a key element, with plans to attract trend-setting companies with the creation of a cross-border e-commerce zone.

To date, three e-commerce parks have already been built in Jianggan, housing more than 1,600 companies. Of that number, 56 enterprises have their own business-to-business websites and 18 have annual revenue of 100 million yuan or more.

Among the centers is the Dongfang E-Commerce Park, housing companies in information software, design and research and development. The park has earned recognition as a National E-Commerce Demonstration Base.

The Jianggan government has plans to integrate other e-commerce and science parks with Dongfang to create an innovative cluster to maximize resources.

In addition, the district government will cooperate with banks and third-party financial organizations to establish a fund for companies willing to innovate.

The government said it will spare no effort to attract professionals by offering preferential policies. Jianggan is designated by the central government as a national talent management experimental zone.

The district encompasses several research institutes, including the Hangzhou branch of the Yangtze River Delta Region Institute of Tsinghua University. They are one source of needed talent.

The district government has also allocated 50 million yuan to specific talent segments. Entrepreneurs are eligible for 5 million yuan of assistance funding and rent subsidies.

Hangzhou


 

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