Nanjing-style Development
'Nanjing-style' development pays off
By Lan Xuan (China Daily)
Updated: 2009-11-30 07:45
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Located at the center of China's Yangtze River Delta zone and renowned as major economic engines in eastern China, Nanjing has played a remarkable role as one of China's fastest-growing commercial centers in recent years.
Since China's adoption of its reform and opening-up policies in 1978, the city, the provincial capital of Jiangsu province, has established a wide-ranging, all-encompassing development program that embodies a unique "Nanjing-style".
The city has become one of the most successful centers for attracting foreign investment. It has established stable trading relationships with more than 200 countries and regions across the world, achieving an annual trade volume in excess of $40 billion.
With the global economic downturn widely seen as coming to an end, Nanjing is now planning its "after-the-crisis" business development program. This is part of a bid to better exploit the city's advantages in terms of industrial resources and geographical benefits, as well as to create additional points of economic growth.
The city will also actively engage in promoting a major upgrade for its traditional industries, accelerate the centralization of its business sectors, usher in a period of intensive development, update its overall industrial capacity and integrate its competitive offering.
Nanjing will also push the high-tech development of its most significant sector - the Electronic Information Industry, where the city is most renowned for its provision of ubiquitous flat panel display products.
Over the next three to five years, Nanjing will also cooperate with Japan-based Sharp. This will see the city secure an investment of 65 billion yuan in order to establish a large-scale flat panel display manufacturing center, as well as a Sharp-backed global research and development facility.
According to local officials, Nanjing is now well on the way to accelerating the development of its modern service industry.
As one of the most significant business centers in the Yangtze River Delta, the service industry has played a leading role in Nanjing's economic development. Over recent years, the city has paid considerable attention to nurturing its modern service industry. Its successes in the sector include making considerable in-roads in the software, service outsourcing, finance and insurance, cultural and creative industries.
(China Daily 11/30/2009 page13)
