Shang­hai Lin­gang opens SF in­no­va­tion cen­ter

China Daily (USA) - - ACROSS AMERICA - By LIA ZHU in San Fran­cisco li­azhu@chi­nadai­lyusa.com

Shang­hai Lin­gang Eco­nomic De­vel­op­ment (Group) Co Ltd, the third largest in­dus­trial park de­vel­oper in China, has set up its first over­seas in­no­va­tion cen­ter in San Fran­cisco to tap into the Sil­i­con Val­ley.

The Shang­hai-based com­pany chose San Fran­cisco to build its first over­seas in­no­va­tion cen­ter over many other op­tions in Eu­rope, Is­rael and Ja­pan, be­cause of the city’s in­no­va­tion cul­ture and its po­si­tion­ing with the Sil­i­con Val­ley – the world’s cap­i­tal of in­no­va­tion.

“As an in­dus­trial park de­vel­oper, we have the re­spon­si­bil­ity to ex­pe­ri­ence and learn first-hand the in­no­va­tive cul­ture and get in­te­grated with global in­no­va­tion in the place where the most ad­vanced tech­nolo­gies were cre­ated,” said Yuan Guo­hua, pres­i­dent of Shang­hai Lin­gang, at a launch cer­e­mony held on Tues­day in San Fran­cisco.

“Through the plat­form of the in­no­va­tion cen­ter, the in­no­va­tors and en­trepreneurs in Shang­hai and even China are ex­pected to con­nect with the over­seas re­sources, in­clud­ing tal­ents tech­nolo­gies and cap­i­tal, to en­ter the US mar­ket,” he said.

In June 2016, the state-owned com­pany in­vested $42.6 mil­lion to pur­chase an of­fice build­ing in down­town San Fran­cisco. The six-story build­ing (and a base­ment), with a floor space of 63,143 square feet (5,866 square me­ters) houses the in­no­va­tion cen­ter.

Thanks to the ex­pan­sion of high­tech com­pa­nies in San Fran­cisco, the area where the build­ing is lo­cated will con­tinue at­tract­ing more high­tech com­pa­nies to move in, said the com­pany.

Es­tab­lished in Septem­ber 2003 with a reg­is­tered cap­i­tal of 6.8 bil­lion yuan ($1 bil­lion), Shang­hai Lin­gang has been car­ry­ing out more than 10 ur­ban ren­o­va­tion projects as well as in­dus­trial parks de­vel­op­ment in Shang­hai.

Among the in­dus­trial parks de­vel­oped by the com­pany, the Shang­hai Lin­gang In­dus­trial Area and Cao­he­jing Hi-Tech Park have been des­ig­nated by the Shang­hai govern­ment to build high-tech in­no­va­tion cen­ters.

Other parks de­vel­oped by Shang­hai Lin­gang in­clude the Shang­hai Pi­lot Free Trade Zone, Shang­hai Lin­gang Tech and In­no­va­tion City, Shang­hai Lin­gang Songjiang Hi-Tech City, Shang­hai Lin­gang Taopu Tech Town, Cao­he­jing Kangqiao Hi-tech Park, Nan­qiao Hi-tech Park, Pu­jiang Hi-tech Park and Fengjing Tech and In­no­va­tion Town.

Cur­rently, Shang­hai Lin­gang’s in­dus­trial parks house more than 7,000 com­pa­nies and over 400,000 staff. The to­tal rev­enue of the com­pa­nies reg­is­tered 537.1 bil­lion yuan ($79.4 bil­lion), with a to­tal in­vest­ment of 54.9 bil­lion yuan ($8.1 bil­lion), and the to­tal as­sets of the group at 58.7 bil­lion yuan ($8.68 bil­lion) in 2014.

Yuan said in­ter­na­tion­al­iza­tion will be the long-term strat­egy for Shang­hai Lin­gang be­cause only by in­te­grat­ing with global in­no­va­tion can a com­pany thrive and re­al­ize sus­tain­able de­vel­op­ment.

The in­no­va­tion cen­ter also will ser­vice the Amer­i­can com­pa­nies to help them en­ter the Chi­nese mar­ket and pro­mote ex­changes be­tween the two sides to re­al­ize “two-way in­te­gra­tion” and serve as a “two-way in­cu­ba­tor”, Yuan noted.

“Shang­hai, with the growth of the parks, has al­ready be­gun this in­no­va­tion by pro­vid­ing ser­vice to some of the com­pa­nies that have been here for sev­eral years now,” said Ed Lee, mayor of San Fran­cisco.

He said the Shang­hai-San Fran­cisco sis­ter city re­la­tion­ship has been one of the most pro­duc­tive of its kind around the world. “So it’s be­fit­ting that Shang­hai Lin­gang builds an­other in­no­va­tion cen­ter in San Fran­cisco to con­tinue the over 35 years of ex­changes of tal­ent,” Lee said.

He called the re­la­tion­ship be­tween Shang­hai Lin­gang and San Fran­cisco “blos­som­ing” by ex­pos­ing and in­tro­duc­ing many San Fran­cisco-based en­trepreneurs to China.

CHANG JUN / CHINA DAILY

Yuan Guo­hua (left), pres­i­dent of the Shang­hai Lin­gang Eco­nomic De­vel­op­ment (Group) Co, Ltd, shakes hands with Ed Lee, mayor of San Fran­cisco, at the open­ing cer­e­mony for the com­pany’s first over­seas in­no­va­tion cen­ter in down­town San Fran­cisco on Tues­day.

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